LONDON (Thomson Financial) - Weir Group Plc. said it sees its full year
pretax, pre-ex profit to be substantially ahead of 2007 and at the upper end of
current market estimates, benefiting mainly from strong conditions in the global
mining market.
The world's biggest maker of pumps for the mining industry said its
financial performance in the weeks ending May 30, continued to benefit from the
strong global mining market, better than expected recovery of the backlog
position from its African Minerals operations and reduced interest charges
resulting from lower U.S. interest rates associated with its recent
acquisitions.
In a trading update, Weir said analysts' forecasts were for pretax pre-ex
profit of between 142.5 million and 163.7 million pounds.
The company also said it has reorganised its business in three divisions,
oil and gas, power and industrial and minerals reflecting the sector focus.
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