Power generator rental group APR Energy shrugged off turmoil in emerging markets as it unveiled a 17 per cent rise in revenue and forecast annual results it said would meet market expectations.

APR, which provides temporary power systems to emerging economies in Africa, Latin America, the Middle East and south-east Asia, said it expected the impact of emerging market currency volatility on the group to be immaterial as most of its contracts were paid in US dollars.

It also said it was continuing to see strong structural demand from those markets and pointed to ongoing talks on a "significant number of opportunities" for engines and mobile gas turbines.

"APR Energy believes the outlook for the mobile gas turbine market remains very positive," it said in a trading update. "The group expects to make strong progress in 2014."

APR said full year revenue had increased 17% to about $310m and orders had risen 36% to 15,730 megawatt months.

It said it had made a strong start to 2014 with projects including the extension of a 200 megawatt project in Libya.

Shares fell 41p to 945p in early trading in London.

PW

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