KBR drags down profits

Oil industry service provider Halliburton clocked a fourth-quarter increase in revenue of only 8% following a dip in orders from its construction arm, KBR

Oil industry service provider Halliburton clocked a fourth-quarter increase in revenue of only 8% following a dip in orders from its construction arm, KBR.

The firm took US $6.02 billion compared to $5.57 billion in the previous year, due to increased activity in the company's energy services group.

But this was partially offset by lower revenue from its KBR unit, which decreased its activity on government services projects for the military.

 

Halliburton still owns an 81% stake in KBR, whose sales fell to $2.5 billion from $2.7 billion.

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