Business
2017 Half Year Results
2017 Half Year Results.
About this update from Hunting Plc
[{"type":"text","content":"\n \nRNS Number : 8229O Hunting PLC 24 August 2017 \n\n\n\n\n\nFor Immediate Release \n\n\n24 August 2017\n\n\n\n\n \n \n \nHunting PLC\n \n(\"Hunting\" or \"the Company\" or \"the Group\")\n \nInterim Results for the six months to 30 June 2017\n \nHunting PLC (LSE:HTG), the international energy services group, today announces its interim results for the six months to 30 June 2017.\n \nFinancial Summary - from continuing operations1\n \n\n\n\n\n· Revenue $318.9m (H1 2016 - $228.4m), up 40%\n\n\n\n\n\n\n\n· Underlying EBITDA $12.1m profit (H1 2016 - $29.5m loss)\n\n\n\n\n\n\n\n· Underlying loss from operations $9.1m (H1 2016 - $50.8m loss) \n\n\n\n\n\n\n\n· Reported loss from operations of $23.7m (H1 2016 - $77.0m loss) \n\n\n\n\n\n\n\n· Underlying diluted loss per share 6.7 cents (H1 2016 - 27.8 cents loss per share) \n\n\n\n\n\n\n\n· Reported diluted loss per share 15.6 cents (H1 2016 - 40.3 cents loss per share) \n\n\n\n\n\n\n\n· Net debt of $5.7m (31 December 2016 - $1.9m)\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.\n \nOperational Summary \n \n· Strong growth reported by Hunting Perforating Systems due to onshore shale drilling activity in the US:\no Sales of H-1 Perforating System accelerating, with volumes sold in H1 2017 exceeding total sold in 2016;\no Recommissioning of Oklahoma City facility and increasing manufacturing capabilities in Canada to meet demand;\no Hiring of personnel to enable additional shifts to be implemented.\n \n· Headcount at 30 June 2017 - 2,359 (31 December 2016 - 2,107).\n \n·  ...