Bloomberg News

ChelPipe First-Half Profit Rises 36% on Oil, Gas Industry Demand

October 13, 2011

Oct. 13 (Bloomberg) -- ChelPipe, the Russian steel pipe maker, increased first-half profit 36 percent as Russian oil and gas companies ordered more pipes.

Net income attributable to shareholders rose to 4.16 billion rubles ($134 million) from 3.06 billion rubles a year earlier, ChelPipe said today on its website. Revenue jumped 68 percent to 63.1 billion rubles.

--Editor: Torrey Clark

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: Torrey Clark at tclark8@bloomberg.net


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