Hunting PLC (LSE:HTG) has announced the next phase of its EMEA restructuring, first outlined in January 2025, aimed at boosting profitability amid projected activity in the UK North Sea. As part of this plan, the company will consolidate manufacturing operations by moving from the Fordoun OCTG facility to the Badentoy site in Portlethen. This relocation is expected to deliver annualized cost savings of around $2 million, with half contributing directly to improved profitability. The broader restructuring initiative, projected to save $11 million annually by June 2026, will also involve winding down yard services at Fordoun at the end of current contracts, ensuring an orderly transition for all stakeholders.
Hunting’s outlook reflects a balance of strengths and challenges. Revenue growth and a solid balance sheet support a positive assessment, while profitability pressures and bearish technical signals temper overall sentiment. Recent corporate developments and a reasonable dividend yield provide further optimism, though valuation concerns remain highlighted by a negative P/E ratio.
About Hunting PLC
Hunting PLC is a global precision engineering group providing high-quality equipment and specialized services. Founded in 1874 and listed on the London Stock Exchange, the company operates across regions including the UK, US, China, India, and Asia Pacific. Its operations are organized into five segments: Hunting Titan, North America, Subsea Technologies, EMEA, and Asia Pacific, focusing on product lines such as OCTG, Perforating Systems, Subsea, Advanced Manufacturing, and Other Manufacturing.
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