Weir reports record profits and margins for 2012

Engineering solutions group Weir managed to register record profits and margins last year and said that it expects another year of profitable growth in 2013.

Engineering solutions group Weir managed to register record profits and margins last year and said that it expects another year of profitable growth in 2013.

The company, which works in the mining, oil & gas and power markets, reported a profit before tax of £443m for the 52 weeks to December 28th, up 12% from £396m in 2011, helped by a strong performance by the Minerals division, which saw "robust project activity" in most key mining equipment markets. Earnings per share increased by 12% from 133.6p to 150.1p.

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