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Weir expects full-year results to be weighted toward H2

Reuters - UK Focus

June 10 (Reuters) - Engineering firm Weir Group Plc said it expects its full-year results to be more weighted towards the second half, as a drop in orders at its oil and gas division hurt second quarter performance.

The Scottish company, which makes valves and pumps for the energy and mining industries, has been hit by a slowdown in North American oilfield activity as crude oil prices remain depressed and explorers and producers slash capital spending.

Weir said divisional order input was 34 percent lower in the first five months of 2015 than in the prior year period. (Reporting by Aastha Agnihotri in Bengaluru; Editing by Anupama Dwivedi)