It’s reported that Russian steel pipe producer TMK released its financial result for the first quarter of this year. TMK posted a net profits of US$85 million for the first quarter of this year, decreasing by 19% year on year but jumping by 170% from a quarter ago. In the first quarter of this year, TMK realized sales revenues of US$1.725 billion, up by 4% year on year, boosted by increased sales of large diameter pipes and welded pipe s in the Russian division. Meanwhile, TMK’s adjusted EBITDA was at US$273 million in the first quarter of this year, rising by 24% from a quarter ago.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=64718&division=A6
