Richard Hunting, the non-Executive Chairman of FTSE 250-listed energy services provider Hunting, has reduced the Hunting Family Trusts' stake in the company.

Some 35,796 shares were disposed of for an average price of 857.8p a share, raising £307,058.

Richard, who is a trustee of the Hunting Family Trusts, continued to hold a beneficial interest of 463,306 shares.

At the end of August the group issued a statement saying subdued rig activity levels in Canada and excess inventories held by customers had hurt half-year underlying profit, but said it was confident in the longer term outlook for the industry.

The British-based supplier to the oil and gas industry said underlying profit from operations fell 5.4% to £61.2m for the six months to June 30th 2013. Pre-tax profit from continuing operations rose to £38.9m from £37.2m the year before. Revenue increased 4.3% to £424.4m.


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