2 March 2006 - Hunting PLC 2005 Annual Results HUNTING PLC
Hunting PLC ('Hunting', the 'Group' or the 'Company'), the international energy
services company, today announces its preliminary results for the year ended 31
December 2005.
* Turnover £1,521.9m (2004: £1,159.4m) +31%
* Total operating profit £44.9m (2004: £20.8m) +116%
* Pre-tax profit £40.9m (2004: £16.5m) +148%
* Basic earnings per share 21.2p per share (2004: 7.9p) +168%
* Final Dividend Per Share 4.0p (2004 : 3.0p) payable
on 29th June 2006 +33%
Commenting on the outlook for the Group, Dennis Proctor, Hunting's Chief
Executive, said:
'The industry forecasts a continuation of 2005 activity certainly through 2006. Major oil and gas operators have raised their expenditures to levels higher thanprevious years not only for cost increases in drilling and related services, but also for additional investment in well completions and heavy oil projects. Our investment in new projects in 2005 will enable us to meet the customers' growing demands. We believe our timing and execution of a distinctive business strategy has been excellent and will continue to deliver shareholder value.
With a strengthened balance sheet, well positioned assets, additional capacity and successful performance trend, Hunting PLC looks forward to the growth opportunities available in 2006.'
For further information, please contact:
Hunting PLC
020 7321 0123
Dennis Proctor, Chief Executive
Dennis Clark, Finance Director
Hogarth Partnership Limited
020 7357 9477
Andrew Jaques
Anthony Arthur
Notes to Editors:
Hunting PLC is an international oil services company providing support solutions to the world's largest oil and gas companies.
Link to interactive 2005 report and accounts