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Hunting Plc H1 Trading In Line With Management View

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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