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29 Aug 2019 | 08:06

Hunting reports uptick in profit despite uncertainty in oil and gas industry

Energy services group Hunting reported an uptick in half-yearly profit on higher revenue despite the uncertainty in the oil and gas industry. For the six months to 30 June 2019, reported profit from operations rose to $41.1m from $38.9m a year earlier and revenue was up 15% to $508.9m. Gross margin fell to 29% from 31% a year earlier amid weaker performance in its Hunting Titan division. The company declared an interim dividend of 5.0 cents, up from 4.0 cents last year. 'The Board is pleased with today's results, but given the volatile market and global economic conditions will continue to update investors regularly on the Group's performance for the balance of the year,' the company said.

At 8:06am: (LON:HTG) Hunting PLC share price was -15.2p at 414.6p

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