Hunting Plc. (HTG.L), an energy services group, said that trading in the first half of 2022 has been in line with management expectations, with the second-half period performance continuing to indicate a further strengthening in revenue run-rate and a return to bottom-line profitability for the full-year.
In its pre-close trading update, ahead of its half year results to be issued on 25 August 2022, the company said it expects group EBITDA for the first-half of 2022 to be in the range of $16 million - $18 million, before any adjusting items.
EBITDA in the second quarter is likely to report an improvement relative to the first-quarter of 2022, following the slow start to the year in January and February due to the impact of COVID-19 on operations.
The third quarter and fourth quarter 2022 EBITDA run rate is also likely to improve about 20% from the the second quarter result, as trading conditions continue to show signs of increased momentum for the remainder of the year.
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