Weir Group Q3 revenues drop due to weak oil market
Published: Tuesday, 03 November 2015
The UK company, which supplies technology to the mining, oil and gas markets, saw its revenue and orders dip for the period ended 2 November 2015, as mining companies continue to hold back on spending and oil prices remain low. However, the company expects its full year earnings to be in line with expectations.
UK-based engineering specialist Weir Group
Plc reported a fall in its order input and revenue for the
third quarter of 2015 as oil and gas activity levels continued
The company’s group order intake for Q3 2015
fell by 29% year-on-year (y-o-y), owing to reduced North
American oil and gas...