TMK Artrom reported loss of RON1.2 million in the first three months of 2013, but switched to profit of RON3.1 million in the second quarter.
Its turnover rose slightly to RON464.3 million in the first six months, compared to RON463.5 million in the year-earlier period, according to a statement the company sent the Bucharest Stock Exchange on Tuesday.
Steel pipe sales fell 7% to 85,512 tons in January through June, from 92,037 tons in the same period in 2012, due to low demand.
The company had 1,215 employees at the end of the first half, compared to 1,176 in the same period a year ago.
The company is 92.73%-owned by TMK Europe, a division of Russia’s TMK. The Russian group also owns steel plant TMK-Resita in Romania.
On the Bucharest Stock Exchange Tuesday, TMK Artrom closed up 1.48% at RON1.299 a share, bringing the company’s market value to RON151 million (EUR34.2 million).