LONDON (dpa-AFX) - Weir Group Plc. (WEIR.L) said that its third quarter orders for the Group were 4% higher than the prior year period and flat on a like-for-like basis.
Original equipment orders increased 41% or 40% on like-for-like basis driven by the 100 million pounds Iron Bridge order in Minerals. Aftermarket orders fell 7% or 15% on a like-for-like basis principally as a result of the accelerated downturn in North American oil and gas markets.
Looking forward, the company now expects 2019 full year operating profits in the Oil & Gas division to be below its previous range with guidance for both Minerals and ESCO divisions unchanged.
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