OREANDA-NEWS. April 21, 2010. Interpipe Novomoskovsk Pipe Plant <NVTR UK SELL> finished the year 2009 with losses of UAH 31.68mn, which is almost a four-time improvement on the performance in the previous year. The net sales have declined by 43% y/y to UAH 987.77mn.

Millennium Capital: the net sales of the Company are better by 10% than our forecasts, but the losses are almost 50% higher. However, it is Millennium Capital’s opinion that the financial performance results as well as the current situation of the Company (an uncertainty about the duty free quotas of their pipe supply to Russia) have already been included in the current stock price. Therefore, Millennium Capital estimates this news as being neutral.