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Halliburton Reports Good Profit Due To Inscreased Exploration

Oilfield services company Halliburton announced the rise in its profits on the increased global oil and gas exploration

Oilfield services company Halliburton announced the rise in its profits on the increased global oil and gas exploration.
The company has made a net profit of $499m for the 3rd quarter.

But its KBR construction unit, which services the US Army in Iraq, saw revenues fall 7% to $2.5bn after the number of contracts fell.
Group revenues rose 6% to $5.1bn, compared with $4.8bn a year before.
In the third quarter of 2004, Halliburton reported a $42m loss, although this figure was hit by a one-off $230m payment to settle asbestos charges.

Despite KBR's setbacks in Iraq, it remains the US Army's main contractor there and has more than $10bn in ongoing orders.