Trading Statement

RNS Number : 9616V

Hunting PLC

23 January 2012

 



For Immediate Release

23 January 2012

Hunting PLC

("Hunting" or "the Group")

Trading Statement

Hunting PLC (LSE: HTG), the international energy services group today provides a Trading Statement ahead of the announcement of its Annual Results on Thursday 8 March 2012.

Trading since the release of our Interim Management Statement on 17 November 2011 has exceeded management's expectations particularly within our North American manufacturing and connections business units where demand continues to show strong momentum, together with excellent trading from our Asia Pacific operations.

As a consequence 2011 full year earnings, which are still subject to external audit, are now expected to be above the top end of analyst expectations.⁽¹⁾

Management are comfortable with the business outlook for 2012 and will provide further guidance on trading when the Annual Results are announced.

⁽¹⁾ Note: Analysts' expectations for underlying profit before tax on continuing operations, for the year ended 31 December 2011 range from £63.8m to £72.8m with a consensus of £67.6m.  Underlying profit before tax is stated before inventory fair value adjustments, amortisation of intangible assets and exceptional items.

For further information please visit www.huntingplc.com or contact:

Hunting PLC Dennis Proctor, Chief Executive Peter Rose, Finance Director	Tel: [phone] Tel: [phone]
Buchanan Richard Darby Jeremy Garcia	Tel: [phone]

Notes to Editors:

About Hunting PLC

Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a fully listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has principal operations in Canada, China, Hong Kong, Indonesia, Mexico, Netherlands, Singapore, United Arab Emirates and the United States of America.

 

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