Business
UK's Weir Group falls after flagging forex hit to annual earnings
UK's Weir Group falls after flagging forex hit to annual earnings
About this update from Epiroc Ab Class A
** Shares of engineering firm Weir Group LSE:WEIR down 4.6% at 2,746 p, top loser on London's FTSE 100 CURRENCYCOM:UK100** WEIR expects forex headwinds to cost them about 105 million pounds ($140.92 million) in FY revenue and 25 million pounds in operating profit** JP Morgan trims FY25 adj. operating profit forecast by ~1% and expects consensus to see ~2% trims, driven largely by FX** "Given the very strong peer reporting and the strong share price performance in recent weeks, we would expect the shares to underperform this morning" - JP Morgan analysts** Co's peers include Vesuvius LSE:VSVS, Smiths Group LSE:SMIN, Epiroc AB OMXSTO:EPI_A and Sandvik AB OMXSTO:SAND ** Up to Tuesday's close, stock had risen 31.87% this year($1 = 0.7451 pounds)