According to a statement issued to the Istanbul Stock Exchange (IMKB) on Monday, March 3, Turkey's largest steelmaker Erdemir registered a slight drop in net profits in 2007, despite posting increased sales.
Accordingly, in 2007 Erdemir posted a net profit of TRY 679.4 million ($551 million), marking a decrease of 0.8 percent compared to the previous year.
However, the company increased its sales for 2007 to TRY 5.454 billion ($4.443 billion), indicating a rise of 11.2 percent over the 2006 results.