Min­ing sec­tor is­sues put pres­sure on Weir’s mar­gins

Shares - - BIG NEWS -

FTSE 250 en­gi­neer­ing group Weir (WEIR) has had to top slice op­er­at­ing profit ex­pec­ta­tions as min­ing af­ter­mar­ket mar­gins come un­der pres­sure.

The £4.42bn com­pany pro­vides slurry han­dling kit used in the min­ing and oil sands mar­kets but en­gi­neer­ing sup­port in­vest­ment and or­der de­lays have dented its earn­ings.

An­a­lysts had an­tic­i­pated ap­prox­i­mately 19% op­er­at­ing profit mar­gins from this part of the busi­ness in sec­ond half of 2017, but 17% now looks a more likely out­come. (SF)

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.