LONDON (dpa-AFX) - Weir Group Plc (WEIR.L), a Scottish engineering company, on Tuesday said that it has recorded a positive momentum in orders for the third quarter. In addition, the company has reaffirmed its annual guidance.
For the third quarter, the Group recorded orders of 636 million pounds, higher than 607 million pounds, registered for the same period last year.
For the fourth quarter, the company expects orders to continue to develop positively.
Looking ahead, for the full year, the company said: 'We reiterate our guidance for growth in constant currency revenue and operating profit, operating margins of c.18%, and delivery of free operating cash conversion of 90% to 100% in line with current market expectation.'
Weir Group noted that it is on track to deliver its 2026 operating profit margin target of 20 percent and sustainable cash conversion of 90 percent to 100 percent.
Further, the company added that the long-term fundamentals for mining and its business are highly attractive, helped by decarbonisation, GDP growth, and the transition to sustainable mining.
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