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

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(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.

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Saumyadeb Chakrabarty)

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