Aggreko revises Tokyo Olympics contract to $315m

Temporary power firm Aggreko said it had agreed an increased contract with the Tokyo Olympic and Paralympic Games organising committee to reflect the delay of the event to this year.

The total revenue value to the group was now expected to be around $315m (£231m), compared to an estimated $250m forecast in March.

Pre-tax profit of £170m - £190m for 2021 assumed the Games proceed as planned at the increased overall contract value, the company said on Wednesday.

Aggreko will provide temporary electricity to 43 competition venues, the Athletes Village and the International Broadcast centre.

“As we confirmed in our third quarter trading announcement on 17 November 2020, our preparation work for the Games continues to progress well and we remain confident of delivering to the revised schedule,” it added.