Updates from Aggreko and UBS


City workers pass the London Stock Exchange building on September 19 2008 in London, England.

The FTSE 100 dipped again slightly on Friday, ending the day at 6,439.9. RSA Insurance Group was the biggest dropper, down -7.22% to 92.50p with Experian the second largest faller, down -2.28% to 1073p. Sports Direct Int was Friday's biggest riser, up +4.15% to 702p.

The Dow Jones finished just 15 points higher at 15,755.

We start with a trading update from miner Aggreko. Full year results likely to be slightly ahead of expectations with strong cash generation; net debt should be around £200 million lower than prior year.

Underlying trading margins for the year are likely to be down around 30%. Revenues in its Power Projects business for the year are expected to be around 2% lower than last year.

"Reported revenues," says the company, "are expected to be flat on the prior year, reflecting the impact of the London Olympics. We are delighted to report that we have been chosen as the supplier of temporary power for the 2014 FIFA World Cup and the Glasgow 2014 Commonwealth Games."

Next, a pre-close update from service business Berendsen. For the 11 months up to 30 November 2013 reported revenues for the Group climbed 7% compared to the equivalent period last year.

Excluding the benefit of foreign currency exchange translation and acquisitions made last year, underlying revenue for the Group was ahead by 3% with trading stronger in the second half of the year.

"Free cash flow," says Berendsen, "remained strong in the period, maintaining conversion of profit after tax at well over 100%. As a result, net debt is substantially lower than at the start of the year."

Lastly, marketing and events player UBM says trading in the fourth quarter is as anticipated and it expects 2013 full year reported revenues to be approximately £800m, in line with market expectations.

Group operating profit margin is expected be at the top of its 22-23% guidance range with fully diluted adjusted earnings per share from continuing operations to be about 53-54p.

"We continue," says UBM, "to target a 10% margin in Marketing Services. At PR Newswire we
anticipate continued stable margins."