The company's shares fell as much as 3.2 percent and were last down 2.6 percent at 1,866 pence as of 0724 GMT, making them one of the worst performers on the FTSE midcap index <.FTMC>.

Miners have cut capital expenditure over the past five years and have looked to purchase or lease production facilities instead of building their own, cutting demand for new equipment.

Weir Group's mining unit accounted for about 1.11 billion pounds ($1.46 billion) out of the group's 2016 revenue of 1.84 billion pounds.

The group's revenue rose 26 percent to 1.09 billion pounds in the first half that ended June 30, boosted by a 69 percent jump in revenue from its North American segment.

(Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Subhranshu Sahu)