Metinvest’s KhPW posts net profit of $167.6 million in Q1

In March this year, Ukrainian pipe producer Khartsyzsk Pipe Works (KhPW), a subsidiary of Ukraine's largest vertically-integrated mining and steel group Metinvest, recorded a net profit of about $13.4 million, compared to a net loss of $5.5 million in March 2010. In Q1 this year, the net profit of the company increased by 7.9 times year on year to $167.6 million.

KhartsyzskTube Works is the leading Ukrainian producer of oil and gas tubes of large diameters. In 2010, the net profit of the company fell to $21 million, 3.4 times less than in 2009.