The Weir Group PLC Interim Results 2004
Highlights: Significant increase in order input - over 25% at constant exchange rates; Increased order input driven by new products and markets; Improving outlook on new orders in Clear Liquid and Techna; Strong turnover and profit growth in Engineering Services; New product introduction programme on track; Earnings per share up 2%; dividend up 3%
The Chairman of the Weir Group, Sir Robert Smith, commented: "The stronger performance from the Services, Techna and Minerals Divisions, when combined with reduced pension charges, delivered results in line with expectations during the first half of 2004.
"The year to date performance has been shaped by the successful delivery of our sales and marketing initiatives across the entire portfolio of our businesses, growing first half input by 25%, at constant exchange rates, when compared to the same period in 2003.
The benefits of the strong order book in Clear Liquid and Techna, coupled to the continuing strong performances from Services and Minerals and the improved pensions position of the Group, should deliver second half improvement when compared to the same period in 2003.
"Our strong balance sheet, when combined with our successful programmes for new product and market developments and on-going operational improvements, provides a solid platform for future growth."
Source: The Weir Group PLC