Weir hikes its profit target

first_img KCS-content Monday 1 November 2010 9:18 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAdventure CrunchHere Are the Most Famous Pro Wrestlers From the Past TodayAdventure CrunchFinance BLVDThis Star from ‘Gilligan’s Island’ is 101 & lives a humble life nowFinance BLVDArticles StoneLittle Boy Brings $2 Painting To Antiques Road Show, Not Realizing Its WorthArticles Stonethedelite.comNetflix Cancellations And Renewals: 2021 Updatethedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter Center Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp whatsapp center_img Tags: NULL Weir hikes its profit target Share Show Comments ▼ engineer Weir Group yesterday raised its forecast for full-year profits after oil company appetite for pumps spiked in the third quarter.The maker of pumps and valves said order input from customers operating in the upstream oil and gas space rose 232 per cent in the 39 weeks to the beginning of October, compared to a rise of 166 per cent in the first half of the year.Chief executive Keith Cochrane said Weir, whose products are also used by mining and power generation companies, had seen “an exceptional third-quarter spike” in its oil and gas business. “We do recognise that is not something that’s going to occur every quarter at that sort of level. I wouldn’t expect the same level of input in the fourth quarter of this year,” he said.Weir said the surge in orders from oil and gas companies would help it enter 2011 with a strong order book given the lag time between orders being converted to revenues.Strengthening demand for Weir’s equipment was fuelled by customers in the North American shale market, where its pumps are used in fraccing – forcing sand and chemicals into rock formations to push out gas and oil.Weir is expected to post a full-year pre-tax profit of £278m. The company which joined the FTSE 100 index in September said the strong performance of both oil and gas and mining offset weakening demand from the power and industrials sectors. last_img read more

NSW issues fines over gaming machine rebirthing racket

first_img NSW issues fines over gaming machine rebirthing racket Casino & games The New South Wales (NSW) Independent Liquor and Gaming Authority has issued bans and fines to two gaming machine industry licence-holders for their roles in a gaming machine rebirthing racket in the Australian state. Tags: Slot Machines Email Address 20th January 2020 | By contenteditor Subscribe to the iGaming newsletter Regions: Oceania Australia AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games Legal & compliance Slots The New South Wales (NSW) Independent Liquor and Gaming Authority has issued bans and fines to two gaming machine industry licence-holders for their roles in a gaming machine rebirthing racket in the Australian state.Gaming machine technician Riad Allam and gaming machine seller Justin Layden were ordered to pay combined fines and legal costs amounting to AUD$100,000 (£52,825/€61,908/US$68,620).Allam was also handed a three-year ban from the gaming industry and ordered to pay Aus$66,000 for his part in the operation, while Layden was issued with a one-year ban and ordered to pay fines and costs of $34,000.According to the Liquor and Gaming NSW, both men were involved with a illegal enterprise that was found to be selling, purchasing and consigning gaming machines without the required authorisations. The machines in question had been scheduled for destruction at a recycling facility, but were instead in the process of being rebirthed for sale to licensed venues.As part of its investigations, Liquor & Gaming NSW seized 43 retired gaming machines from a warehouse at Chipping Norton and a licensed venue on Sydney’s North Shore.Liquor & Gaming NSW’s director of compliance operations, Sean Goodchild, said: “Gaming machines in NSW are tightly regulated and strict rules apply to sellers, dealers and technicians. The unlawful conduct in this case undermines the integrity of the industry and increases the risk of gaming machines falling into the wrong hands.”According to NSW law, it is illegal to be in possession of a gaming machine in the state unless properly authorised, with maximum potential penalties of up to $11,000 or 12 months jail.Late last year, the NSW Office of Responsible Gambling set out details of a new funding opportunity for PhD scholarships, post-doctoral fellowships and study grants to build capability and capacity in gambling research.Using money from the Australian state’s Responsible Gambling Fund, the grants will be used to help improve the quality, diversity and impact of gambling research in communities across Australia.last_img read more