Weir on track after strong Q1

13th May 2009 08:25

A strong first quarter has made engineer Weir confident of meeting expectations for the full year.It is still predicting an annual profit before tax and intangibles amortisation from continuing operations of between £140m and £169m.Order input fell 4% during the 13 weeks ending 27 March versus the same time last year, but revenue rose 4%. Positive currency effects also helped boost operating profit for the period.The minerals division saw orders fall 19% due to lower commodity prices and weaker demand, but oil & gas grew 33% and power & industrial by 6%.