December 02, 2008

Khartsyzsk Pipe 2007 net income down by 17.8% YoY

According to an official statement by the company, Khartsyzsk Pipe Plant decreased net income to USD 64.0 down by 17.8% YoY while its net sales dropped to USD 612.9 million down by 1.8% YoY with a net margin of 10.5% in 2007.

HRTR's sales went down due to lower orders, especially in the second half of last year, which caused output to drop to 486,000 tonnes down by 16.4% last year.

(Sourced from Millennium Capital)