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Hunting ahead

Hunting ahead

HUNTING, the international services group, yesterday unveiled a 9 per cent rise in profits before exceptionals at the halfway stage, after a strong performance from defence contracts helped to offset a 19 per cent fall in profits at its oil businesses.

Pre-tax profits in the six months to June fell to pounds 19.2m (pounds 20.9m), due to a one-off pounds 3.6m charge from the sale of its Cargo Airlines. The sale completed Hunting's disposal of its aviation business, which has left it with pounds 50m earmarked for bolt-on acquisitions in the North American oil sector, according to the chairman, Richard Hunting.