Mining sector issues put pressure on Weir’s margins
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)