Halliburton posts 54pc profits jump

City A.M. Reporter
HALLIBURTON, the world’s second-largest oilfield services company, beat forecasts with a 54 per cent jump in quarterly profit yesterday thanks to a US drilling boom.

Halliburton is the leader in the North American market in pressure pumping technology that enables oil and gas producers to tap shale fields, and its second quarter results show it benefited from that market position.

Second-quarter net profit climbed to $739m (£460m), or 80 cents per share, from $480m, or 53 cents per share, a year earlier. Excluding one-time items, the company earned 81 cents per share, topping the 74 cents per share that analysts had on average forecast. Revenue rose 35 per cent to $5.9bn.