BUSINESS
03/28/2008 02:45 am ET Updated May 25, 2011

Tax Benefits, New Contracts Send Halliburton Profits Soaring

Oil services company Halliburton Co (HAL.N) on Sunday said third-quarter net profit rose 19 percent, helped by a tax benefit, new international contracts and higher activity from its customers.

Halliburton, which earlier this year opened a headquarters in Dubai to capture contracts in faster-growing, more profitable Eastern Hemisphere markets, has been hit by pricing pressure in its largest North American market.

The company reported a net profit of $727 million, or 79 cents a share, compared with $611 million, or 58 cents a share, in the same quarter a year earlier.

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