Business
2019 Full Year Results
2019 Full Year Results.
About this update from Hunting Plc
[{"type":"text","content":"\n \n \n RNS Number : 2655E\n Hunting PLC\n 27 February 2020\n \n \n \n \n \n \n \n \n For Immediate Release \n \n \n \n \n 27 February 2020\n \n \n \n \n \n \n \n \n \n \n \n \n Hunting PLC\n \n \n \n \n \n (\"Hunting\" or \"the Company\" or \"the Group\")\n \n \n \n \n \n Results for the year ended 31 December 2019\n \n \n \n \n \n Hunting PLC (LSE:HTG), the international energy services group, today announces its results for the year ended 31 December 2019.\n \n \n \n \n \n Financial Summary* / **\n \n \n \n \n \n \n \n \n \n ·\n Revenue $960.0m (2018 - $911.4m) \n \n \n \n \n \n \n \n \n \n ·\n Underlying EBITDA $139.7m (2018 - $142.3m)\n \n \n ·\n Reported EBITDA $139.7m (2018 - $141.3m) \n \n \n \n \n \n \n \n \n \n ·\n Underlying profit from operations of $94.3m (2018 - $104.7m) \n \n \n \n \n \n \n \n \n \n ·\n Reported profit from operations of $46.8m (2018 - $75.4m) \n \n \n \n \n \n \n \n \n \n ·\n Underlying diluted earnings per share 43.9 cents (2018 - 49.6 cents) \n \n \n \n \n \n \n \n \n \n ·\n Reported diluted earnings per share 23.5 cents (2018 - 52.3 cents) \n \n \n ·\n Impairment of Drilling Tools fleet of $19.0m (2018 - $nil)\n \n \n ·\n ROCE 8% (2018 - 9%)\n \n \n \n \n \n \n \n \n \n ·\n Net cash, before lease liabilities, of $123.1m (31 December 2018 - $61.3m)\n \n \n \n \n \n \n \n \n \n ·\n Final dividend of 6.0 cents per share proposed (2018 - 5.0 cents) and payable on 15 May 2020 to shareholders on the register on 17 April 2020, subject to approval at the Company's AGM\n \n \n \n \n \n \n \n \n \n ·\n Initiating share buyback programme of 2 million shares, with an approximate cost of $8 million, commencing on 27 February 2020\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n *Underlying results are based on reported results before amortisation of intangible assets recognised as part of a business combination and exceptional items. Reported results are based on the statutory results as reported under International Financial Reporting Standards as adopted by the EU.\n \n \n **2019 financial information includes the adoption of IFRS 16 Leases. 2018 data has not been re-stated.\n \n \n \n \n \n Operational and Corporate Highlights\n \n \n \n \n \n Solid financial platform\n \n \n - ...