Tube and Pipe Metallurgical Company publishes financial report based on international accounting standards
Tube and Pipe Metallurgical Company announced the results of its financial activity in the six months of 2006 according to the international accounting standards. The auditing was carried out by Ernst and Young Ltd.
The company sold 1,462,200 tons of tubes and pipes, including 482,800 seamless oil country tubular goods (OCTG), and produced 1,108,800 tons of steel. The company’s consolidated return came to $1,576.34m, the prime cost of the goods sold amounted to $1,076.82m, the gross profit reached the point of $499.52m, EBITDA margin came to 24.9%, the net profit to $229.05m, reports the company’s spokesperson.
The company sold 1,462,200 tons of tubes and pipes, including 482,800 seamless oil country tubular goods (OCTG), and produced 1,108,800 tons of steel. The company’s consolidated return came to $1,576.34m, the prime cost of the goods sold amounted to $1,076.82m, the gross profit reached the point of $499.52m, EBITDA margin came to 24.9%, the net profit to $229.05m, reports the company’s spokesperson.
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