Hunting, the FTSE 250 energy services company, said trading so far in 2012 had been in line with expectations.
In comments released ahead of the company's AGM on Wednesday, Chairman Richard Hunting said many of the group's businesses were benefitting from current momentum in the energy industry.
"Overall, the company has a strong balance sheet and there has been no significant change to the financial position of the Group since the publication of the results for the year ended 31 December 2011," he said.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In well construction, Hunting's US Manufacturing business reported strong shale related activity, while its drilling tools platform continued to perform well, albeit with the Canada business showing a seasonal slowing in momentum.
The firm's well construction division would also be aided by recovery in activity in the Gulf Of Mexico, the Chairman said.
Hunting's Advanced Manufacturing Group was trading well and this was reflected by a good order book, he added.
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
