Pipe Metallurgical Company (TMK) announced its intermediary consolidated performance results for the first half of 2011, that is, through June 30, 2011. The performance report was drawn up in accordance with the International Accounting Standards (IAS).

The company’s press service reports that its revenues increased by 38% in comparison with the year earlier and amounted to $3,547m mainly due to growing prices and improvements in the range of produce on offer. 57% of accumulated revenues came from the sales of weldless pipes – the company’s key product.