Business
Changes to the Group's Segmental Reporting 2017
Changes to the Group's Segmental Reporting 2017.
About this update from Hunting Plc
[{"type":"text","content":"\n \nRNS Number : 6271W Hunting PLC 16 November 2017 \n\n\n\n\n\nFor Immediate Release \n\n\n16 November 2017\n\n\n\n\n \n \n \nHunting PLC\n \n(\"Hunting\" or \"the Company\" or \"the Group\")\n \nChange to the Group's Segmental Reporting 2017\n \nHunting PLC (LSE:HTG), the international energy services group, today announces a change to its segmental reporting under IFRS 8 Segment Reporting.\n \nFurther to the Board changes announced during the year which came into effect on 1 September 2017, the Board has reviewed the segmental presentation of financial information it requires to assess performance and allocate resources. It now considers a more geographic-focused reporting format based on the location of operating activities to be more meaningful from a management and forecasting perspective. \n \nIn line with these internal changes, external segmental reporting has been revised to present the performance of Hunting's US, Canada, Europe, Asia Pacific and Middle East and Africa operations. Further, due to its size and nature of operations, Hunting Titan's activities are reported separately. Hunting's non-core Exploration and Production business unit is also reported separately as its activities are different in nature to the Group's other reporting segments.\n \nThe Board assesses the performance of the operating segments based on revenue and operating results. Operating results is a profit-based measure and excludes discontinued operations and the effects of amortisation of acquired intangible assets and exceptional items such as restructuring costs, onerous provisions and asset impairments.\n \nFurther, the Board will provide revenue information by product groups, to assist in investor understanding of the underlying performance trends.\n \nRevised Segmental Information\n \nThe Group's external revenue and operating results by operating segment for the period 2013 - 2016 is detailed below. The four years presented below together with 2017's segmental information in the 2017 Annual Report will provide five years' information.\n \n\n\n\n\nExternal Revenue\n\n\n2016\n\n\n2015\n\n\n2014\n\n\n2013\n\n\n\n\n\n\n\n$m\n\n\n$m\n\n\n$m\n\n\n$m\n\n\n\n\nHunting Titan\n\n\n142.5\n\n\n200.2\n\n\n352.9\n\n\n281.6\n\n\n\n\nUS\n\n\n162.0\n\n\n321.1\n\n\n540.9\n\n\...