Weir Group lifts profit forecast

Image caption, Weir Group saw orders in its oil and gas business up 129%

Glasgow engineering firm Weir Group has reported a strong start to 2011.

The company said a number of acquisitions it made last year helped increase orders by 39% in the first three months of the year.

Weir plans to double its 2009 profits in the next five years and said the current year's results would be 拢20m ahead of expectations.

In a statement the group announced "record quarterly orders for the minerals and oil and gas divisions".

Orders in its oil and gas business were up 129% and Weir said it was stepping up a 拢25m investment in its Fort Worth site in Texas.

The expected 拢20m increase in profits this year represents a rise of 6% on the company's original forecast.