Order input in the Power & Industrial segment of Weir increased 35% from Dec. 31-May 8 on a reported basis and 27% on a like for like basis and ahead of expectations, underpinned by a strong performance from American Hydro and the benefits of strategic initiatives to accelerate growth across global valve markets. This included the award of a substantial landmark nuclear control valve contract in the Middle East for delivery across 2013-14. Excluding large nuclear original equipment orders, like for like input growth was 17%. Quotation activity remains strong and a growing order book provides confidence in the medium term outlook for the division. Weir continues to expect good profit progression in 2012 with divisional operating margin expectations unchanged.
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