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Halliburton Profit Rises, Shares Reach New High
Published in Saudi Press Agency on 23 - 07 - 2007

Halliburton Company, the world's second-largest oil services company, said Monday that second-quarter profit rose 19 percent, surpassing Wall Street expectations, helped by new international contracts and stronger demand from its customers.
The company, which opened a headquarters in Dubai this year in an effort to grow its business in the Eastern Hemisphere, noted recent contracts in India and Malaysia that helped offset weakness in its largest market, North America.
Investors, encouraged by the international results, sent shares of Halliburton to $38, the highest level in more than a year.
Net income for the second quarter was $1.5 billion, including a gain of $933 million from the separation of engineering and construction firm KBR Incorporated. That was compared with profit of $591 million a year earlier. Revenue for the company rose 20 percent to $3.7 billion.


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