5th Nov 2014 07:56
LONDON (Alliance News) - Energy services company Hunting PLC Wednesday said it set to deliver a further year of growth, as its US business in particular continues to see strong demand and the recent fall in the oil price has yet to weigh on customer demand.
In a statement, Chief Executive Dennis Proctor said activity in North America has remained strong since July 1, stayed positive in Asia Pacific and the Middle East, but that the operating environment in Europe had become more challenging because drilling activity has been slow.
"Our capital investment programmes in the United States and South Africa remain on track for completion over the next nine months, adding approximately 0.4 million square feet of additional manufacturing capacity," the CEO said.
"In summary, Hunting is well positioned to deliver a further year of growth as industry investment and business momentum continues, with the overall outlook for the group's trading, for the year as a whole, in line with management's expectations," he added.
By Steve McGrath; [email protected]; @stevemcgrath1
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