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Hunting's first-half earnings drop 63% on oil price crash

Aug 27 (Reuters) - Oilfield services group Hunting Plc 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. (Reporting by Shanima A in Bengaluru; Editing by Anil D’Silva)

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