PNTZ BOOSTS QUARTER TO QUARTER RAS NET PROFIT 170 percent IN Q1 2008

摘要

YEKATERINBURG. (Interfax)--OJSC Pervouralsk Novotrubny Pipe Works (PNTZ), which is part of the ChTPZ Group, boosted net profit according to Russian accounting standards (RAS) 171 percent to 380.926 million rubles in the first quarter of 2008 in comparison with the fourth quarter of 2007, the company said in a statement on April 18. The increase in the company's net profit was driven by changes to the volume and organization of the PNTZ's finished product sales, as well as decreases in the company's balance of miscellaneous revenue and expenditure.