Business
2017 Full Year Results
2017 Full Year Results.
About this update from Hunting Plc
[{"type":"text","content":"\n \nRNS Number : 2994G Hunting PLC 01 March 2018 \n\n\n\n\n\nFor Immediate Release \n\n\n1 March 2018\n\n\n\n\n \n \nHunting PLC\n \n(\"Hunting\" or \"the Company\" or \"the Group\")\n \nResults for the year ended 31 December 2017\n \nHunting PLC (LSE:HTG), the international energy services group, today announces its results for the year ended 31 December 2017.\n \nFinancial Summary - from continuing operations1\n \n\n\n\n\n· Revenue $722.9m (2016 - $455.8m) \n\n\n\n\n\n\n\n· Underlying EBITDA $55.4m (2016 - $48.9m loss)\n\n\n\n\n\n\n\n· Underlying profit from operations of $13.7m (2016 - $92.2m loss) \n\n\n\n\n\n\n\n· Reported loss from operations of $25.4m (2016 - $140.7m loss) \n\n\n\n\n\n\n\n· Underlying diluted earnings per share 7.6 cents (2016 - 45.3 cents loss per share) \n\n\n\n\n\n\n\n· Reported diluted loss per share 16.4 cents (2016 - 76.8 cents loss per share) \n\n\n\n\n\n\n\n· Net cash of $30.4m (31 December 2016 - $1.9m net debt)\n\n\n\n\n\n\n\n \n1 Underlying results are based on continuing operations before amortisation of acquired intangible assets and exceptional items. Reported results are based on the statutory results for continuing operations as reported under International Financial Reporting Standards as adopted by the EU.\n \nOperational and Corporate Highlights\n \nStrong operational and financial performance by Hunting Titan recorded in the year.\n· Units of production exceeding 2014 levels.\n· Strong sales of H-1 Perforating System.\n· Utilisation of production capacity in US, Canada, China and Mexico to meet demand.\n· Recommissioning of Oklahoma City, US, manufacturing facility in Q1 2017.\n· New distribution centre at Pleasanton, Texas, opened to addres...