TMK grows Q1 revenue; profit flat on quarter but up on year

摘要

Russian pipe maker TMK reported $1.27 billion in first quarter revenue, having increased it both quarter on quarter (up 6%) and relative to the same three months last year (up 35%), the company said Friday. The on-quarter growth is owed to improved performance in TMK?s Russian division and more specifically - to a favorable seamless pipe product mix and higher prices, while the year-on-year revenue rise was due to stronger performance in all three TMK divisions, including American and European divisions.