LONDON (dpa-AFX) - Weir Group plc (WEIR.L), on Thursday, reported a 15% growth in first-quarter group orders, driven by significant growth in demand for spares with aftermarket orders up 28% year-on-year.
Original equipment orders were 17% lower than in the same period of last year where the company booked a £34 million order from Ferrexpo. Adjusting for that, growth in original equipment orders was 8% in Q1 2022.
The Group's book-to-bill was strong at 1.22, reflecting record order intake and good progress on order book execution.
Looking ahead, the company expects to deliver strong constant currency revenue and profit growth in 2022, in line with its previous expectations adjusted for the impact of loss of sales in Russia.
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