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Weir surges as strong orders underpin full-year guidance
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Weir surges as strong orders underpin full-year guidance Proactive uses images sourced from ShutterstockWeir Group PLC (LSE:WEIR) shares jumped 7.8% to 2,720p after strong second-quarter orders and an improving product mix underpinned its full-year guidance.
Orders rose 8% at constant currencies to £1.43 billion in the first half, including a 10% increase in original equipment and 8% growth in aftermarket products.
Revenue increased 5% at constant currencies to £1.27 billion, although adjusted operating profit was flat at £239 million.
It expects full-year margins above 20% and remains on track for £90 million of cumulative efficiency savings.
With full-year guidance unchanged "there are many moving parts, so might there be some trims, particularly on FY margins.