Weir lifts dividend after profit hike

4th Aug 2009 08:43

Weir Group's chairman Lord Smith of Kelvin hailed the pump and valve maker's strategy to focus on sectors that are not vulnerable to discretionary spending cuts as it posted a rise in profits and revenues and lifted its dividend.In the half year to June 26, pre-tax profits climbed by 12% from the same period the previous year to £91.4m as revenue climbed by the same percentage margin to £709.8m. The interim dividend rises to 4.8p from 4.65p.The firm was helped by a strong performance from its power and industrial and minerals division, which offset weakness in its oil and gas arm.