Weir Group

Report dated – 15 August 2011
Market Capitalisation – £4.03bn
Sector: Industrial Engineering
Prospective p/e ratio – 14.7x
Prospective dividend yield – 1.8%

The global engineering group has announced another excellent set of results and has clearly benefited from the strong growth seen in its end markets, notably minerals and oil and gas.  The group is increasing its investment to expand its capacity in upstream oil and gas operations in North America, whilst it also has a growing exposure to emerging markets.  We have increased our profit forecasts once again and despite the rise in the share price over recent months the shares do not look expensive.

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