Turkish integrated long steel producer Kardemir has announced its financial results for 2008.
According to the company's statement sent to Istanbul Stock Exchange (IMKB), the company's consolidated net profit for 2008 increased by 106 percent to TRY 256.7 million ($151.9 million) from the net profit of TRY 124.6 million ($72.93 million according to current exchange rate) in 2007.
The company's sales in 2008 also increased by 45.5 percent year on year to TRY 1.08 billion (approx. $632 million).