Improving oil and gas receipts boosted half-year results at Scottish pump manufacturer Weir (WEIR), but that was more than offset by currency movements. Adjusted operating profits fell 7 per cent to £201m, but would have grown 4 per cent without the foreign exchange hit.
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Weir previously flagged weak demand for its kit from the retrenching mining industry, which was exacerbated by the impact of prolonged industrial action in South Africa. That weighed on the group margin, which fell from 18.1 to 17.6 per cent.