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16

Halliburton Net Profit Surged 20%

The company reported a net profit of $727 million, or 79 cents a share

US oilfield services giant Halliburton Co on Sunday said third-quarter net profit rose 19 percent, due to a tax benefit, new international contracts and higher activity from its customers.

The company reported a net profit of $727 million, or 79 cents a share, compared with $611 million, or 58 cents a share, in the same quarter a year earlier.

Results for the 2007 third quarter include a favorable income tax impact of $133 million, or 15 cents per share, and a charge of $21 million, or 2 cents per share, for reserves related to environmental matters.

Consolidated revenue in the quarter climbed 16 percent from a year ago to $3.9 billion.