Russia's largest oil and gas pipe producer TMK has released its Russian Accounting Standards (RAS) financial results for the first nine months of 2008.
During the period in question, TMK's revenue increased by 10.9 percent year on year to Ruble 581.3 million (approx. $21.3 million). TMK's gross loss decreased by more than two times year on year amounting to Ruble 213.2 million (approx. $7.8 million), while the company's net loss totaled Ruble 1.609 billion (approx. $58.9 million).
These RAS financial results for the first nine months of 2008 are not consolidated and do not include the financial results of TMK's subsidiary companies, nor do they reflect the company's manufacturing and pipe production businesses.