(Reuters) - Oilfield services group Hunting Plc (L:HTG) on Thursday reported a 63% plunge in first-half earnings as its clients cut back on spending due to the coronavirus-led crash in fuel demand, but it expects markets to improve in the fourth quarter.
Hunting, which manufactures a wide range of tools and solutions used in oil and gas exploration, said its underlying earnings before interest, tax, depreciation and amortization plunged to $28.4 million for the six months ended June 30 from $77.4 million a year earlier.