Russia'a steel pipe manufacturing company for the oil and gas industry TMK increased its revenue by 31 percent in the first nine months of 2017 compared to the same period of 2016, it announced on Thursday.
TMK said that its revenue for the nine months was around $3.19 billion.
The company's adjusted earnings before interest and tax also increased by 14 percent year-on-year at $444 million.
TMK said the results were due to strong U.S. demand.
"We are pleased to report a strong set of results for the third quarter with continued growth in the U.S. market," Alexander Shiryaev, CEO of TMK, said.
He asserted that TMK’s financial performance in the fourth quarter would continue to be driven by strong demand in the U.S., with improvements also expected in the Russian market.
By Murat Temizer