Russia's Taganrog Metallurgical Works (Tagmet), a subsidiary of the largest Russian pipe company TMK Group, has announced a net profit of RUB 105.22 million ($1.85 million) for 2014, down 62.6 percent compared to 2013.
Also in 2014, Tagmet's sales revenues reached RUB 28.448 billion ($0.5 billion), up six percent year on year.