Aggreko on track to deliver cost savings after profit falls
LONDON, March 3 (Reuters) - British temporary power provider Aggreko (LSE: AGK.L - news) said it was on track to deliver 80 million pounds worth of cash savings after it posted a 13 percent fall in underlying 2015 pretax profit, in line with expectations.
The group, which provides generators for major public events and industry users as well, said on Thursday it would deliver the savings by 2017 from reorganisation and improvements in its procurement.
It (Other OTC: ITGL - news) posted full-year pretax profit of 252 million pounds ($354.79 million) for the year ended Dec. 31, in line with expectations, but down from 289 million pounds in 2014. ($1 = 0.7103 pounds) (Reporting by Li-mei Hoang; editing by Kate Holton)