Novomoskovsk Pipe targets increasing output 60% yoy in 2010

Novomoskovsk Pipe (UX: NVTR UK) said in a statement yesterday that it planned to increase production 59.6% yoy in 2010 to 251 ths mt. It also reported its 2009 financial results in the company filing: net sales dropped 42.9% yoy to UAH 987.8 mln, net gross profit was down 48.6% yoy to UAH 188.7 mln, operating profit dipped 4.5x yoy to UAH 37.1 mln, and its net loss equaled UAH 31.7 mln, up 3.9x yoy.