In the January and March period of the current year, the net profit of Sinarsky Pipe Works, a subsidiary of Russia's largest pipe producer TMK, increased to RUB 64.3 million against a net loss of RUB 315 million in Q1 2010. The positive financial results were achieved due to increased sales volumes and prices, as well as currency fluctuations.

Also in Q1, the sales revenues of Sinarsky Pipe Works increased by 29% compared to Q1 2010 reaching RUB 6.35 billion. The increased sales revenues were mainly caused by the rise in prices and the moderate increase in sales volume.

(Sourced from Steel Orbis)
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