Weir Group, the Glasgow-based global mining and engineering FTSE 100 firm, said on Wednesday its group orders rose 2% in the third quarter ended September 30, including contributions from its recent Micromine and Townley acquisitions.
However, in a trading update, Weir said it continues “to expect headwinds from translational foreign exchange, which we currently estimate to be £105m and £25m on our prior year comparative for revenue and operating profit, respectively.”
Weir also said it noted “elevated levels of uncertainty related to critical metals disputes and further tariffs between the US and China, and their potential to impact global supply chains and customer sentiment.”
Weir shares fell about 2% but are up roughly 28% in 2025.
In its outlook, Weir said: “Going into the fourth quarter, we are focused on executing against our strong orderbook.
“For the full year, we reiterate our guidance for growth in constant currency revenue and operating profit, operating margins of c.20%, and delivery of free operating cash conversion of 90% to 100%.
“We continue to expect headwinds from translational foreign exchange, which we currently estimate to be £105m and £25m on our prior year comparative for revenue and operating profit, respectively.
“While we have fully mitigated trade tariffs enacted around the globe so far this year, we continue to carefully monitor macro events which could further impact our business.
“Specifically, we note elevated levels of uncertainty related to critical metals disputes and further tariffs between the US and China, and their potential to impact global supply chains and customer sentiment.
“Over the longer-term, Weir represents a compelling value creation opportunity stemming from our compounding business model.
“We remain committed to delivering our longer-term guidance: to outgrow our markets, expand margins, and convert earnings into cash-while remaining resilient and committed to doing the right thing for our people and the planet.”
Weir Group CEO Jon Stanton said: “Our performance in the third quarter reflects positive activity in our core mining markets.
“Demand for brownfield and debottlenecking solutions is driving healthy order momentum for original equipment across both divisions.
“As customers maximise production to capitalise on metals demand, good underlying aftermarket activity has been enhanced by further installed base conversion and a strong contribution from recent acquisitions.
“Having announced our intention to acquire Fast2Mine and completed the Townley transaction, we further strengthened our market presence and product offering, helping our customers address their critical operational and sustainability challenges.
“Looking forward to the fourth quarter, despite a number of challenges facing the mining industry, not least continued uncertainty on the outcome of tariff negotiations, we remain focused on disciplined execution against our strong orderbook.
“We reiterate our 2025 guidance for growth in constant currency revenue and operating profit, together with delivery of our margin and cash conversion targets.”