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Hunting PLC - London-based oil and gas industry services provider - Posts revenue of $725.8 million for 2022, up 39% from $521.6 million a year ago as order book multiplies to $473.0 million from $211.5 million. Swings to profit from operations to $2.0 million from a loss of $79.7million. Earnings before interest, tax, depreciation and amortisation amount to $52.0 million compared to just $3.1 million in 2021. Declares a final dividend of 4.5 cents, up 13% from 4.0p a year prior. This takes the total dividend for 2022 to 9.0 cents per share. Hunting plans an average dividend increase of 10% per year until 2030. Looking ahead, Hunting says outlook for energy continues to be highly robust given the demand projections for the year ahead. Chief Executive Jim Johnson says: ‘I am pleased with the group’s performance this year, delivering good results in a period of commodity price volatility and macro-economic uncertainty. Whilst certain challenges remain, we are confident that we will deliver a strong performance in the year ahead, with Hunting exceptionally well positioned to benefit from increased investment in energy security and higher demand for energy as China continues to re-open post Covid-19.’ Current stock price: 322.50 pence each, down 3.4% on Thursday afternoon in London 12-month change: up 35% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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