Weir pumps up sales, profits and orders
Pump manufacturing specialist, the Weir Group said today (3 August) that it had enjoyed an excellent half year and was heading for a significant boost in annual profits with sales, profits and order levels all well ahead of the same time last year.
Commenting on the company's half year results, chief executive Keith Cochrane said: "Against the background of an uncertain global economic recovery, the Weir Group has again delivered an excellent set of results with all divisions recording profit and margin progression.
"Our growth plan is well on track across all our divisions and the strong increase in orders demonstrates our robust business model and ability to respond quickly to the changing economic environment.
"Strong trading reinforces our confidence for the remainder of 2010 and we continue to expect profit for the second half of 2010 to be significantly ahead of the prior year in constant currency terms."
Revenue for the 26 weeks ended 2 July was 9% up at £775m, pre-tax profit was 58% up at £144m and order input was 24% higher at £863m.
