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.
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.