Weir Group sees full-year oil and gas unit profit at lower end of target

By Reuters

Published on 30/07/2019 - 10:04•Updated 19/04/2024 - 13:21

(Reuters) - Engineering company Weir Group Plc <WEIR.L> on Tuesday posted a 7% fall in like-for-like orders in the first half of the year and lowered the profit forecast for its oil and gas business, sending its shares down 3.5%.

The company said full-year oil and gas operating profit is now anticipated to be at the lower end of its previous forecast range of 55 million pounds to 95 million pounds.