CORRECTED-Weir says third-quarter profit lower than expected

Mon Nov 4, 2013 2:25am EST

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(Replaces revenue with profit in third paragraph)

LONDON Nov 4 (Reuters) - British engineer Weir Group said on Monday third-quarter revenues and profit had been below expectations due to project delays in the mining industry and a slower than forecast recovery in its oil and gas division.

The company, which makes pumps and valves for the mining, oil and gas industries, had expected a resurgence in U.S. shale activity to outweigh a challenging environment in the mining sector.

Weir said it expected full-year profits before tax to be in a range of 425-435 million pounds with margins broadly in line with the previous year.

However, profits would be around 8-12 million pounds lower than they would have been due to foreign exchange moves. (Reporting by Stephen Eisenhammer; Editing by Mark Potter)

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