Weir waiting on oil and gas markets to pick up

Scottish engineering firm Weir has advised that full year profits are likely to come in below market expectations if there is no pick-up in the upstream Oil & Gas markets.

Scottish engineering firm Weir has advised that full year profits are likely to come in below market expectations if there is no pick-up in the upstream Oil & Gas markets.

The cautious outlook statement overshadowed a solid set of interim figures from the group. Revenue in the 26 weeks ended June 29th rose 29% to £1,031m from £1,325m the year before. Order input failed to keep pace with revenue growth, however, advancing 8% to £1,312m from £1,220m the year before.

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