Aggreko shocks short-sellers with upbeat trading update Consensus forecast for Aggreko's full-year pre-tax profit is £284m, Mr Hanna said. Dealers said that rather than long-term investors buying into the business, the flurry of activity was driven by short-sellers covering their positions. Data from Markit showed that about 6.5pc of the company's shares are out on loan, while the Financial Conduct Authority's records show 4.4pc of the shares are being shorted. The latest data from the regulator cites Lansdowne Partners as having a short position in 2.98pc of Aggreko's shares, Eton Park international 0.71pc and AQR Capital Management 0.69pc. How Aggreko's shares spiked after the update. Mr Hanna said: "It's very difficult to know short-sellers" rationale, perhaps it's the volatility in the sector that has given them something to trade off." Rival company APR Energy's shares have collapsed over the past year and last month it issued a profit warning. Also in the industrial sector, Secro announced a £1.5bn hit and a £550m rights issue earlier this week. Serco is led by Rupert Soames, who left Aggreko to take over the outsourcer in May. Updating on its own operations, Aggreko said its business in the Americas grew by 15pc in the quarter. Europe, Middle East and Africa was up 4pc, with the part of the company that delivers long-term power benefiting after a contract in Libya became operational again following a security review that halted it. Asia, Pacific and Australia saw revenue fall 9pc in the quarter, which the company attributed to the slowdown in Australia's mining sector and pricing pressures in Indonesia. Mr Hanna said that company is also working to secure extensions to some of its long-term power supply deals, and land new contracts in Argentina and the Ivory Coast. New chief executive Chris Weston, currently managing director of international downstream at Centrica, is due to start at Aggreko in January, allowing Mr Hanna to give up his dual role.