The Russian pipe producer TMK Group (TMK) has issued its financial results for the first half of 2007 under the International Financial Reporting Standards (IFRS).
Accordingly, in the first six months of 2007, TMK registered a 28 percent increase in its revenue to $2.03 billion, a 30 percent rise in its gross profit to $657.9 million, a 27 percent increase in its EBITDA to $499.5 million and a 25.8 percent increase in its net profit to $289.1 million - all compared to the results for the first half of 2006.
Commenting on its strong results for the first six months of 2007, TMK stated that its revenue had increased due to a combination of higher average selling prices and higher sales volumes.