Engineer Hunting PLC (LSE:HTG) shares surged 17% after the company secured a US$91mln contract and increased its earnings guidance.
The new business is with Cairn Oil & Gas in India and brings the sales order book to US$575mln.
In the same announcement, the metal basher raised its EBITDA forecast for full-year 2023 to US$92-94mln.
“US market activity remains stable and with the orders received for China, Guyana, Brazil and now India, Hunting continues to see a strong growth profile given our standing and recognition with major energy companies, coupled with the strong international market sentiment being reported in many regions,” said chief executive Jim Johnson.
At 9.18 am, the shares were changing hands for 235p, up 33.5p.