Hunting PLC - London-headquartered energy services provider - Annual performance "adversely impacted" by reduced global oil and gas market activity, with the company swinging to a USD238.2 million pretax loss for 2020 from a USD41.4 million profit the year before. This as revenue drops 35% to USD626.0 million from USD960.0 million in 2019. Proposed a 4.0 US cents per share dividend, versus nothing the year before.
Chief Executive Jim Johnson says: "The board of Hunting believes that the group has been decisive in its actions during 2020 to manage the market downturn. The group enters 2021 a leaner organisation, with its global capabilities intact and poised to capitalise on any new opportunities presented."
Current stock price: 268.20 pence
Year-to-date change: up 20%
By Anna Farley; annafarley@alliancenews.com
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Hunting (HTG)