Wednesday, November 20
A large pipe and railway wheel manufacturer’s net profit has increased by 530% in half a year.
Thursday, September 28, 2023
According to the company’s press release, the international, vertically integrated pipe and wheel company, Interpipe earned $122.43M in the first half of the year.
Pre-tax profit for six months increased by 530% to $157.5M. At the same time, operating profit increased by 170% to $178.29M. The company’s earnings during this period amounted to $518.38M compared to $461.44M in the first half of last year.
At the same time, due to the full-scale war, steel production by Interpipe enterprises decreased by 39% last year to 595,000 tons, pipes – by 36% (to 393,000 tons), and railway products – by 51% (to 84,000 tons). Sales of products decreased by 37% to 524,000 tons, including pipes by 36%, to 384,000 tons, and railway products by 50%, to 87,000 tons.
