5th Mar 2026 11:42
(Alliance News) - Hunting PLC on Thursday announced a new share buyback, and plans for further cost savings, as it returned to profit in 2025.
The London-based supplier of equipment to the oil and gas industry swung to pretax profit of USD65.5 million in 2025 from a USD33.5 million loss in 2024. The prior-year figure included non-cash goodwill impairments of USD109.1 million. Adjusted pretax profit increased by 5.4% to USD79.7 million from USD75.6 million.
Revenue slipped 2.9% to USD1.02 billion from USD1.05 billion.
Diluted earnings per share totalled 24.6 US cents compared to a loss of 17.6 cents a year ago.
Hunting proposed a final dividend of 6.8 US cents, up 13% from 6.0 cents a year ago, taking the total payout up to 13.0 cents from 11.5 cents, also a 13% increase.
In addition, Hunting announced a new USD40 million share buyback, to be executed over the next two years until March 2028.
An existing USD60 million buyback programme is targeted for completion this month.
Hunting said a cost reduction programme to be completed through to the end of 2027 will increase profitability and further streamline centralised costs with projected savings of around USD15 million, in addition to those already announced.
Since 2024, Hunting has restructured its Hunting Titan and Europe, Middle East & Africa operating segments. Costs of around USD20 million have been eliminated to date and will be realised by June 2026, the firm said.
Shares in Hunting rose 4.5% to 534.00p in London on Thursday.
By Jeremy Cutler, Alliance News reporter
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