LONDON (dpa-AFX) - The Weir Group Plc (WEIR.L), a Scottish engineering company, on Wednesday posted a turnaround to profit for the fiscal 2021, amidst a surge in orders.
For the 12-month period to December 2021, the Glasgow-headquartered firm reported a statutory post-tax profit of 259 million pounds or 99.7 pence per share, compared with a statutory loss of 155 million pounds or 59.6 pence per share, recorded for the financial year 2020.
The company's statutory pre-tax earnings from continuing operations was recorded at 209.5 million pounds as against 178 million pounds last year.
Statutory operating profit from continuing operations of the firm moved up to 256.6 million pounds, compared with 228 million pounds, a year ago.
Weir's adjusted EBITDA from continuing operations moved down for the 12-month period to 372.1 million pounds from 375.4 million pounds, recorded for 2020.
The British firm reported a rise in orders at 2.19 billion pounds, from 1.79 billion pounds, on year-on-year basis.
The company has announced a full-year dividend of 23.8 pence per share.
For 2021, the engineering company generated a revenue from continuing operations at 1.93 billion pounds as against 1.96 billion pounds, reported for the previous fiscal.
Looking ahead, for fiscal 2022, the company expects to deliver strong growth in constant currency revenue and profit in line with its medium-term targets.
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