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pre lim results were announced on 10th March, could be building up to results
Rising towards the trading statement on Tuesday.
orders for next year are lookin grim and slim...staff costs are rising...international boys still travelling in bizzy class and limos looking for new work that aint there yet ..international costs exceed revenue...cant see the asian recovery making a difference in 2010 - predict a crash in March - down to 3.30/3.50 levels to end 2011..take any profits and put into the banks quick
Until recently however, followers of the company expected a much larger decline in 2009 profits. And next year, the company may well recover more quickly than anticipated, as Asian economies grow stronger and use more metals and other commodities. In September, Weir announced that Selway would be leaving at the end of the year. A native Australian, he has been offered a job Down Under and decided to go home. The impact of this has been deflected, fortunately, as finance director Keith Cochrane is stepping up to the plate. Cochrane has been with Weir since 2006 and has been instrumental in transforming the company from what it was to what it is today. Midas verdict: Weir shares are trading at 750p. They have done well in recent weeks but are still well below the high of 970p reached in the summer of 2008. The stock should rally as economic conditions improve and brokers become more appreciative of the company's spread of businesses. Buy.
Weir Epic: WEIR Share charts: http://www.thisismoney.co.uk/weir Weir does not just make the kit however. It also has a robust after-care, service and maintenance business. This is particularly important in industries which work their equipment hard, such as mining companies, and areas where safety is critical, such as nuclear power stations. Weir's after-care division has proved extremely helpful during the economic downturn, cushioning the group from the worst effects of recession. In the six months to 26 June, for example, orders for original equipment fell 36 per cent to £273 million but spare part orders were down just 2 per cent to £248 million, while demand for servicing rose 5 per cent to £136 million. Weir is far from complacent about the future but the company should be one of the early beneficiaries of economic recovery. Mining companies are already seeing demand for metal pick up, particularly inChina and other emerging markets. Oil and gas and power should follow. Initially, Weir's customers may not want to buy large amounts of new equipment but, as they use existing kit more, the need for spares and service will increase. The company will issue a trading update in mid-November and some brokers believe this will be more positive than expected. In 2008, Weir made pre-tax profits of £176 million. Most analysts expect a slight fall to £170 million this year, reflecting the economic slowdown, particularly in North A
a gud time to look at getting in these soon.
Such a well run company that wil benefit strongly from a weak sterling.Once oil price recovers WEIR will be closer to £10 .
Next stop £6.00
Choo Choo! Financial express, next stop £5.
What you in at on these
458p now
Final x-div (13.85p) is 29- Apr- 2009
you'll be glad you did.
Hopefully Tomorrow
It sure does Hursty, but I have also noticed that the level dropped to are raising as well. I am confident it will break £4.00 and make it a new lower resistance level.
seems to struggle over this hill!
Can't hang around at this price.
That enough Shelly. To add to that they are also looking to buy other specialist companies with cash! in the Oil,Gas and Power Industries that make excellant margins. There no muppets Buy
The Weir Group have a good management team, and a very diverse catalogue of services. Their trade price is linked to the performance of oil prices to an extent, but they have a lot of money in the pot. They really are a super company that has outperformed others in the sector. Take away the recent global meltdown and look at the shares prices over the last 5 years alone.
And your so sure because ....????
These are going to rise and rise.
They may lower to £2.80 again, but you have to buy and hold these - the longer, the better, it really is a grower. Any price under £6 is a total bargain. Stock up I say - couldnt be happier, like a blue cross sale!
I was tempted to double my holding at £3.
Undervalued, along with a number of companies at the moment. More reason to buy. Back in the 9's one day!!
You are half correct - the pay date is today but the date when shareholders had to be in it to win it, i.e. the ex-date, was October the 8th. It is normal to see the price rise to (and dip after) the ex date. Payment date has no effect.