Business
Q3 trading update and cybersecurity incident
Q3 trading update and cybersecurity incident.
About this update from Weir Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4222O\n Weir Group PLC\n 07 October 2021\n \n \n \n \n \n Press Release \n \n \n 7 October 2021\n \n \n \n \n \n The Weir Group PLC trading update for the third quarter ending 30 September 20211\n \n \n \n \n \n This announcement contains inside information\n \n \n \n \n \n \n \n Q3 trading update and cybersecurity incident\n \n \n \n \n \n The Weir Group PLC is today accelerating the announcement of its Q3 trading update whilst updating the market on its management of a recent cybersecurity incident.\n \n \n \n \n \n \n \n · \n \n \n \n \n Strong order2 trends continued in the third quarter; 31% increase in continuing operations\n \n \n \n \n \n \n \n \n \n \n \n \n o\n \n \n \n \n Minerals orders +30%\n \n \n \n \n \n \n \n \n \n \n \n \n §\n \n \n \n \n Original Equipment (OE) +71% driven by brownfield expansion, share gains and sustainable solutions\n \n \n \n \n \n \n \n \n \n \n \n \n §\n \n \n \n \n Aftermarket (AM) +16% reflecting miners' maximising production\n \n \n \n \n \n \n \n \n \n \n \n \n o\n \n \n \n \n ESCO orders +36% supported by strong mining and infrastructure demand\n \n \n \n \n \n \n \n \n \n · \n \n \n \n \n At the end of the quarter Weir was subjected to an attempted ransomware attack\n \n \n \n \n \n \n \n \n \n \n \n \n o\n \n \n \n \n No impact on Q3 orders; All facilities are operational with customer impact being mitigated\n \n \n \n \n \n \n \n \n \n \n \n \n o\n \n \n \n \n Business continuity plans and cyber counter-measures working well\n \n \n \n \n \n \n \n \n \n \n \n \n o\n \n \n \n \n Q3 profitability impacted with revenue deferrals on shipment delays and under-recoveries\n \n \n \n \n \n \n \n \n \n \n \n \n o\n \n \n \n \n Capabilities being progressively restored but operational inefficiencies expected into Q4\n \n \n \n \n \n \n \n \n \n \n \n \n o\n \n \n \n \n Group liaising with regulators and relevant intelligence services\n \n \n \n \n \n \n \n \n \n · \n \n \n \n \n Full year PBTA now expected to be in the range of £230m to £245m\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Jon Stanton, Chief Executive, commented:\n \n \n \n \n \n \"We responded quickly ...