ENGINEERING group Weir upgraded its forecast for profits after reporting a 43% surge in order to £1.2bn.
The Glasgow-based group, which includes Weir Power and Industrial with offices at Bradley, posted interim earnings up by 24% at £178m and said full-year profits will be “somewhat ahead” of previous expectations. The dividend for shareholders rises by 20% to 7.2p.
The group, which includes pumps and valves among its products, reported strong growth in orders from the oil, gas and minerals markets.
Weir said it would also be buoyed in the second half of the year by the £25m proceeds from the sale of its site at Cathcart, Glasgow.