2010 full year results
Preliminary results 2010
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WeirGroup_2010_Full-Results.pdf [Adobe®
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Results for 52 weeks ended 31 December 2010
Highlights
| |
Continuing
operations |
| |
2010 |
|
2009 |
|
Change |
| Order input1 |
£1,904m |
|
£1,366m |
|
+39% |
| Revenue |
£1,635m |
|
£1,390m |
|
+18% |
| Operating Profit2 |
£310m |
|
£205m |
|
+51% |
| Operating Margin2 |
18.9% |
|
14.7% |
|
+4.2pts |
| Profit before tax2 |
£295m |
|
£187m |
|
+58% |
| Cash from operations |
£275m |
|
£302m |
|
-9% |
| Earnings per share2 |
100.4p |
|
64.1p |
|
+57% |
| Dividend per share |
27.0p |
|
21.0p |
|
+29% |
| Return on captial employed3 |
32.4% |
|
24.4% |
|
+8.0pts |
| Net debt |
£284m |
|
£119m |
|
|
| |
|
1 2009 restated at 2010 average
exchange rates.
2 Adjusted to exclude intangibles amortisation.
Reported operating profit, profit before tax and earnings per share
were £292m (2009: £188m); £277m (2009: £170m) and 94.3p (2009:
58.8p) respectively.
3 Continuing operations EBIT divided by average
net assets excluding pension deficit
Keith Cochrane, Chief Executive, commented: “Weir delivered an
exceptional performance in 2010, demonstrating great agility in
responding to improving conditions in our upstream oil and gas and
mining markets.
During the year we made good progress in
moving forward our strategic agenda, including five acquisitions
which broaden our product portfolio and further increase our
exposure to high-growth emerging markets. The Group is well on
track to achieve its ambition to double 2009 profits by 2014.
Weir enters 2011 in excellent financial
health, with a record order book, a clear strategy and plans to
drive future growth. We are confident the Group will deliver good
progress this year."
| Contact details: The Weir Group PLC |
|
| Keith Cochrane, Chief Executive |
Tel. 020 7567 8000 (switchboard) |
| Victoria Ferrier, Head of Investor Relations |
(Mobile: 07787 105 515) |
| Helen Walker, Public Relations Manager |
(Mobile: 07789 032296) |
| The Maitland Consultancy |
Tel. 020 7379 5151 |
| Suzanne Bartch |
(Mobile: 07769 710 335) |
| Rowan Brown |
(Mobile: 07834 434 662) |
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