Business
Interim Results
Interim Results.
About this update from Hunting Plc
[{"type":"text","content":"\n RNS Number : 6523R Hunting PLC 26 August 2010 \n \n\n\n\n\n\nFor Immediate Release\n\n\n26 August 2010\n\n\n\n\n \n \n \nHunting PLC\n \n(\"Hunting\" or \"the Company\" or \"the Group\")\n \nHalf Year Results\n \nHunting PLC (LSE:HTG) the international energy services group today announces its results for the six months to 30 June 2010.\n \nFinancial Highlights - from continuing operations\n \n\n\n\n\n· Revenue increased to £214.2m (2009: £209.0m)\n\n\n\n\n· Profit from operations before exceptional items of £22.0m (2009: £22.0m), compares with £13.8m profit from operations achieved in the second half of 2009\n\n\n\n\n· Profit from operations of £14.8m (2009: £22.0m)\n\n\n\n\n· Basic earnings per share before exceptional items 11.2p (2009: 11.7p)\n\n\n\n\n· Basic earnings per share 7.3p (2009: 11.7p)\n\n\n\n\n· Interim dividend declared of 3.7p (2009: 3.5p)\n\n\n\n\n· Net cash of £314.1m (2009: £387.6m)\n\n\n\n\n \nCorporate Highlights \n \n\n\n\n\n· Acquisition of Innova-Extel announced on 16 August 2010 for a cash consideration of US$125 million extends the Group's product offering in Well Construction portfolio - expected to complete by the end of August\n\n\n\n\n\n\n\n\n\n· Capital expenditure in the period increased to £19.1m (2009: £10.9m) and includes:\n\n\n\n\n\n\n\n\n\no Expansion of Casper, Wyoming facility \no Completion of drilling tools facility at Conroe, Texas\no Commissioning of Wuxi facility in China\no Completion of pipe and tubular goods inventory and management facility in Fordoun, Scotland\no Purchase of facility in Pennsylvania to access Marcellus shale gas play\n\n\n\n\n\n\n\n\n\n· First commercial orders received for Chemical Injection Systems - 8 units shipped to date\n\n\n\n\n\n\n\n\n\n· Sales and marketing agreement signed with ArcelorMittal for new OCTG mill in Saudi Arabia\n\n\n\n\n \n \nCommenting on the results D...