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Results: WEIR

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Weir Group: a nod to reality (but not opportunity)...

I do not think I have written about Weir Group (WEIR) on these pages before. After all, it is a FTSE 100 name that many investors find it easy to overlook. But the company is a not insignificant operator in the global mining, materials and energy services space – and it is the latter of these areas which grab my attention today as the company announced the 'cash sale of the Weir Oil & Gas division to Caterpillar Inc. for an Enterprise Value of US$405m'. Admittedly, that is only a single digit percentage of the company's enterprise value, but you can see the rationale when it notes that it will take 'Weir pro forma Net Debt / EBITDA at 30 June 2020 of 1.9x'...

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