Metinvest’s KhPW posts net profit of $24 million for Q1

For the first quarter this year, Ukrainian pipe producer Khartsyzsk Pipe Works (KhPW), a subsidiary of Ukraine's largest vertically-integrated mining and steel group Metinvest, has posted a net profit of about UAH 196.108 million ($24.08 million), up 81.2 percent compared to the same period of last year.

KhartsyzskTube Works is the leading Ukrainian producer of oil and gas tubes of large diameters. In 2011, the net profit of the company increased to UAH 788.018 million ($96.76 million), 4.6 times more than in 2010.