LONDON (Reuters) - British engineer Weir Group L:WEIR said on Thursday it remained on track for a return to growth this year as demand for oil and gas equipment and services outstripped sluggish mining orders in the first quarter.
The company, which makes pumps and valves for the mining, oil and gas industries, said adverse foreign currency movements would impact results this year, but did not specify by how much profits might be hit.
Order input for Weir's oil and gas division, which has a strong position in U.S. shale, was ahead of management's expectations in the quarter - up 33 percent on the same period last year - the company said in a statement.
Mining orders by contrast continued to struggle, down 7 percent on last year, with original equipment orders falling as much as 27 percent.
(Reporting by Stephen Eisenhammer; Editing by David Holmes)