Weir builds margins despite cyber/Covid disruptions

Weir Group (WEIR) was the beneficiary of positive pricing in the commodities complex through much of 2021. However, the mining engineer delivered its full-year figures at a time when the global security situation was deteriorating. The group’s exposure to Ukraine and Russia is limited to around 2 per cent of net assets and 5 per cent of sales, yet management admitted that it has “created significant uncertainty about [Weir’s] operations and trading in those countries”.