Feb 29 (Reuters) - British energy services firm Hunting Plc reported a near two-fold increase in annual profit on Thursday, beating its previous forecast and a company-complied consensus, boosted by robust contract wins in its subsea and drilling products segments.

Shares of the company were up 1.7% by 0844GMT.

Its full-year 2023 core profit rose to $103 million compared with a prior forecast of $96 million-$100 million and a company-compiled consensus of $98.42 million.

Annual revenue jumped 28% to $929.1 million.

Hunting, which counts Exxon Mobil and Chevron among its top customers, manufactures components, technology systems and precision parts.

The company has also been tapping the non-oil and gas markets and moving past heavy reliance on its largest unit Titan, which makes perforating tools mainly for onshore wells in the U.S. Onshore activity declined in the United States last year.

Hunting retained its 2024 earnings expectations and increased total dividend by 11% to 10 cents per share for 2023. (Reporting by Anchal Rana in Bengaluru; Editing by Sonia Cheema)

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