August 18, 2017 / 6:33 AM / a month ago

Russia's TMK H1 core earnings up 2 pct y/y

MOSCOW, Aug 18 (Reuters) - TMK, Russia’s largest maker of steel pipes for oil and gas industry, said on Friday its first-half core earnings rose 2 percent from a year ago due to stronger demand and prices at its American division.

TMK, controlled by Russian businessman Dmitry Pumpyansky, said its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) totalled $275 million in January-June compared with $269 million a year ago. (Reporting by Polina Devitt; editing by Dmitry Solovyov)

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