Aggreko’s soft H1 FY20 performance was primarily infected by the COVID-19 pandemic during the last few months. But, as the virus continues to roam around freely and oil prices are unlikely to regain lost ground, the seasonally more important H2 FY20 is expected to be much more painful for the company. Amidst the challenging environment, management anticipates FY20 PBT to decline by at least 50% yoy and a higher tax rate to make matters worse.
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Weak H1; more pain awaits in H2 FY20
- Published:
10 Aug 2020 -
Author:
Mohit Rathi -
Pages:
3
Aggreko’s soft H1 FY20 performance was primarily infected by the COVID-19 pandemic during the last few months. But, as the virus continues to roam around freely and oil prices are unlikely to regain lost ground, the seasonally more important H2 FY20 is expected to be much more painful for the company. Amidst the challenging environment, management anticipates FY20 PBT to decline by at least 50% yoy and a higher tax rate to make matters worse.