Tube Metallurgical Company JSC releases audit report for 2005

24 May 2006 (11:50)

Tube Metallurgical Company JSC released its audit report for 2005 (the report uses International Accounting Standards). According to the report, the company’s profit went up by 42.9% and reached the point of 79.2bn RUR, its net profit came to 7.6bn RUR in 2005. The sales increased by 14.3% and came to 2,842,600 tons of goods; the output comprised 1,963,300 tons (an increase of 5.3% against 2004).

The company also raised its seamless tubes shipments due to supplying more oil country tubular goods (OCTG). The sales went up largely due to supplying more wrought pipes (60.9% more of them were sold in 2005) for Gazprom JSC.

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