ENGINEERING group Weir said it had performed strongly in a “difficult” global economic climate as it unveiled a 6% rise in underlying annual profits.
The Glasgow-based group, which includes Weir Valves and Controls Ltd in Elland, tabled underlying earnings of £187m for the year to January 1 and also raised expectations for 2010 – saying it was now targeting profits broadly similar to those seen in 2009. Revenue rose by 3% to £1.39bn while operating profits were 11% ahead at £205m.
Weir shares closed yesterday up 7.86% at 926.50p each.
