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Hunting - Pretax profit up 153%

November 2012

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Hunting's shares appear to be mimicking recent weakness in the US rig count, as c. 70% of its sales are from that region. However, this is a simplistic view, with increasing demand for its complex products, which are used to help clients extract oil & gas locked up in tight formations a few thousand feet down the well, being the main driver. This, alongside a first-time contribution from the transformational Titan acquisition, meant interim results unveiled a sharp 62% rise in revenues to Â£407m while pretax profit increased 153% to Â£65.4m. Eps rose 129% to 28.6p. Net debt was Â£191m.In well construction, which supplies steel locking threads to connect sections of steel pipe as well as other drilling tools, operating profit r ...

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Hunting - Pretax profit up 153%

November 2012

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