Edition:
United Kingdom

Weir Group PLC (WEIR.L)

WEIR.L on London Stock Exchange

2,146.00GBp
19 Jan 2018
Change (% chg)

-15.00 (-0.69%)
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Latest Key Developments (Source: Significant Developments)

Weir Group gives ‍preliminary assessment of impact of US tax reform legislation
Thursday, 11 Jan 2018 

Jan 11 (Reuters) - Weir Group Plc ::‍PRELIMINARY ASSESSMENT OF IMPACT OF US TAX REFORM LEGISLATION​.‍NOTES RECENTLY ENACTED TAX CUTS AND JOBS ACT (ACT), WHICH CAME INTO EFFECT ON 1 JANUARY 2018​.MEASURES INCLUDED IN ACT ARE LIKELY TO GIVE RISE TO INITIAL ONE-OFF NON-CASH TAX CREDIT IN 2017.FROM 2018 FAVOURABLE IMPACT OF HEADLINE FEDERAL RATE REDUCTION IS LIKELY TO BE LARGELY OFFSET BY GREATER RESTRICTION ON LEVEL OF INTEREST DEDUCTION ALLOWED IN US​.  Full Article

Weir says Q3 ‍oil & gas orders up 59 pct
Tuesday, 31 Oct 2017 

Oct 31 (Reuters) - Weir Group Plc ::WEIR GROUP PLC - Q3 ‍OIL & GAS ORDERS INCREASED 59% LEVERAGING DIVISION'S MARKET LEADING PRESSURE PUMPING POSITION​.WEIR GROUP PLC - ‍WE ANTICIPATE STRONG GROWTH IN FULL YEAR CONSTANT CURRENCY REVENUES AND PROFITS​.WEIR GROUP PLC - ‍Q3 ORDERS WERE 21% HIGHER THAN PRIOR YEAR PERIOD​.WEIR GROUP PLC - ‍NET DEBT AT 30 SEPTEMBER 2017 WAS HIGHER THAN THAT REPORTED AT 30 JUNE 2017 BUT IN LINE WITH NORMAL SEASONAL PATTERNS​.  Full Article

Weir says FY pretax profit down 22 pct on weak oil market
Wednesday, 22 Feb 2017 

Weir Group Plc : Final dividend 29 pence per share . Total dividend 44 pence per share . 10 pct order growth in Q4 as mining and oil and gas markets showed signs of recovery . Full year PBTA of 170 mln stg was impacted by severe oil and gas market downturn . Upstream North American oil and gas markets troughed in Q2; division returned to breakeven in Q4 . FY minerals revenues and profits increased; consistently outperforming its markets . Reported FY PAT from continuing operations of 43 mln stg after 74 mln stg of exceptional items . FY order input at 1,860 mln stg decreased by 8 pct on a constant currency basis primarily due to significant downturn in oil and gas markets . FY revenue of 1,845 mln stg was 11 pct down on a constant currency basis .Board is recommending a final dividend of 29.0p resulting in a total dividend of 44.0p for year, unchanged from 2015.  Full Article

Weir sees FY profit slightly lower than market expectations
Tuesday, 1 Nov 2016 

Weir Group Plc : Q3 aftermarket orders stable with overall order input down 7 pct . Q3 minerals - aftermarket orders grew 4 pct; original equipment fell against a strong prior year period . Q3 oil & gas - sequential quarterly input growth in North America; further declines in Middle East . Disposal programme on track to deliver up to 100 mln stg by year end; 79 mln stg achieved by end of October . Full year profits anticipated to be slightly lower than current market expectations .Group's full year 2016 profits are expected to be slightly lower than current market expectations.  Full Article

Weir names insider John Heasley as new CFO
Monday, 3 Oct 2016 

Weir Group Plc :John heasley appointed weir group chief financial officer.  Full Article

Weir Group H1 profit befor tax down 25 pct
Thursday, 28 Jul 2016 

Weir Group Plc : Weir group plc today reports its interim results for six months up to 30 june 2016. . First half performance ahead of market expectations . Oil & gas remains cash generative but margins below break-even, reflecting tough market conditions. . Group-Wide £50m of annualised cost reductions announced in 2016 on track: . cumulative annualised savings of £160m since q4 2014. . Up to £100m asset disposal programme progressing to plan: £46m achieved by end of july . Board changes: keith cochrane to be succeeded as ceo by jon stanton from 1 october 2016 . Our full year guidance for a reduction in constant currency group operating profits is unchanged . First half performance ahead of market expectations, constant currency full year guidance unchanged. . Robust minerals performance: margins and profits up; record quarterly aftermarket revenues in q2. . Improved flow control: margins and profits up, benefiting from strong cost control. . Net debt/ebitda(2) of 2.8x, expected to fall during h2 despite forex movements. .Substantial progress in innovation agenda: £38m in revenues from new products..  Full Article

Weir names Jon Stanton as chief executive designate
Thursday, 28 Jul 2016 

Weir Group Plc : Appointment of Jon Stanton as chief executive designate, succeeding Keith Cochrane with effect from 1 october 2016 .Jon Stanton to succeed Keith Cochrane as chief executive of Weir Group Plc.  Full Article

Weir Group COO to step down from board on Sept 30
Thursday, 30 Jun 2016 

Weir Group Plc : Directorate change . Dean Jenkins, chief operating officer will step down from board of group on Sept. 30 .Dean's employment with group will cease on Dec. 31.  Full Article

Finland's Wartsila buys American Hydro from Weir
Thursday, 23 Jun 2016 

Wartsila Oyj Abp : says has acquired the U.S. and Canada based company Weir American Hydro from the Weir Group plc with effect from 30 June . American Hydro is a leading supplier and installer of large equipment upgrades and servicing for the hydroelectric and water distribution industries, specializing in consultancy, design and precision performance enhancements for hydro-turbines and pumps . company currently employs 241 people, with net sales of USD 45.6 million in 2015Further company coverage: [WRT1V.HE] (Helsinki Newsroom) ((news@reuters.fi; +358 9 6805 0244)).  Full Article

BRIEF-Weir Group ‍announces John Mogford and Alan Ferguson's retirement

* ‍ANNOUNCES THAT NON-EXECUTIVE DIRECTORS JOHN MOGFORD AND ALAN FERGUSON WILL RETIRE FROM BOARD AFTER COMPANY ANNUAL GENERAL MEETING IN APRIL 2018​