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• Weir Group

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Date: Thursday 09 Oct 2008

LONDON (ShareCast) - Engineer Weir expects profits from continuing operations before intangibles to be slightly ahead of guidance thanks to foreign exchange benefits.

The group said the foreign currency translation benefits, mainly from the strengthening of the dollar against sterling, increases its confidence in the full year outlook.

It now expects an increase in profit from continuing operations before tax, intangibles amortisation and exceptional items to around £170m.

Group guidance for continuing operations profit before intangibles at 12 August 2008 was £165.4m.

“During the third quarter, the group has continued to perform strongly, with good growth in input, revenue and profit, on a constant currency basis, reflecting ongoing demand for our products across the mining, oil & gas and power sectors, and the impact of recent acquisitions,” said the group.

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