Jon Stanton – CEO of Weir Group

The mining solutions specialist experienced robust demand for its original equipment, with orders rising 6%, driven by brownfield projects. This included a significant £18 million order for GEHO pumps destined for an Indonesian nickel expansion. Aftermarket orders also saw a healthy 9% increase, reflecting strong mine production, although ESCO excavator bucket orders were slightly lower due to timing.

Investors reacted positively to the update, with Weir Group shares closing 4.5% higher yesterday, resulting in a market capitalisation of £6 billion.

CEO Jon Stanton said: “I’m delighted with our performance in the first quarter. We began the year with a record pipeline, which is converting in line with our expectations as customers capitalise on supportive prices for commodities enabling the energy transition.

“I am especially pleased with the growth in aftermarket orders which reflect the strength of our business model as newly installed equipment, particularly HPGRs, are commissioned.”

He continued: “As we near the completion of our acquisition of Micromine, I look forward to welcoming their team to Weir. Through our combined digital technology offering, we are well positioned to drive further productivity and sustainability impact across the global mining industry.

“Looking forward, we are executing well against the commitments set out in our equity case. We expect orders to continue to develop positively, and we reiterate our 2025 guidance of growth in constant currency revenue and operating profit, together with achievement of our margin and cash conversion targets.”