13 Oct 2011 10:32

ChelPipe boosts H1 pipe sales 41%, profit 38%

MOSCOW. Oct 13 (Interfax) - Chelyabinsk Tube Rolling Plant (ChTPZ) boosted steel pipe sales 41% year-on-year in H1 2011 to 1.012 million tonnes, the company, which is one of Russia's biggest producers of pipes for the oil and gas industry, said.

Sales revenue was 63.109 billion rubles.

Net profit to International Financial Reporting Standards (IFRS) jumped 38% year-on-year to 4.155 billion rubles, and earnings before taxes, depreciation and amortization (EBITDA) came to 12.495 billion rubles (20% of revenue), compared with 9.113 billion rubles (24%) a year previously.