Strong fourth quarter, with underlying revenues expected to be up at least 22% year-on-year.
· Profit before Tax and Amortisation for 2011 is expected to be around £324m.
· Underlying trading profits for 2011 expected to be up about 25%.
· Strong order intake in International Power Projects; we now anticipate around 1,200MW of new orders in 2011.
· Planning to invest £320m in fleet in 2012.
Outlook
We will start 2012 in a strong position, with at least 20% more on hire in International Power Projects than at the start of 2011, and with good momentum in the Local business. In 2012, the Local business will benefit from our contract to supply temporary power for the London Olympics, for which we have already committed significant resources. We therefore expect, absent any major change in the macro-economic environment, to deliver strong growth in the first half of 2012. We are more cautious about the second half of 2012, when any downturn in economic activity is more likely to be felt by our businesses, and comparatives will be tougher.
