SHARES in back-up power generator company
The temporary power supplier yesterday reported an increase in profit after tax from £125m to £129m for 2019.
Final dividend per share increased from 17.1p in 2018 to 18.3p in 2019.
Operating cash inflow ballooned 48 per cent from £423m to £628m from 2018 to 2019.
"Our 2019 results demonstrate the significant progress we have made to improve the group's financial performance," said chief executive
The business noted its rental solutions arm had performed strongly with an operating profit increase of 22 per cent and the power solutions utility arm's underlying profit also increased by 21 per cent. However, the power solutions industrial arm's underlying profit fell seven per cent.
Companies around the world have been affected by the spread of the coronavirus with sectors including the car and airline industries reporting significant disruption.
Last week saw a major fall in international markets with the oil price around
This comes on the day the US Federal Banking Reserve cut interest rates in order to safeguard the US economy from a slowdown.
(c) 2020 City A.M., source