Aggreko revenues jump as company looks ahead to London 2012 Olympics The Glasgow-based group, which has supplied power to events including the Glastonbury music festival, said the business had a "very strong" first quarter. Aggreko also provided power for the Asian Games in 2011 and will service the London Olympics later this year. The company also said it expected revenues from London 2012 would now be about £50m instead of the previously expected £35m. Its International Power Projects unit, which provides heating and cooling equipment to governments and corporations across the world, saw revenues rise 21pc, excluding revenues from major events. The local businesses, which hire equipment out regionally for nearby customers, also saw revenues jump 21pc, excluding fuel costs, which are passed on to customers. Aggreko, whose chief executive is Sir Winston Churchill's grandson Rupert Soames, also unveiled a new contract to supply 100 megawatts of power generation in the Dominican Republic. The two-year contract, worth $80m (£50m), will supply capacity in the north of the country. "This will improve the stability of the national grid which has had to deal with rapidly increasing demand due to the rapid economic growth of the country,"" Mr Soames said. Net debt rose by £63m to £428m, reflecting investment in generation capacity ahead of the Olympics. Analysts were upbeat on the company's prospects, despite the high valuation. "The shares aren't cheap," said Barclays analyst Paul Checketts. But Aggreko is set for a decade of double-digit earnings growth with a continued high return on capital. The shares rose 67p to £22.26.