Turkish Erdemir net profit up 119 pct in first half
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Reuters
Oluşturulma Tarihi: Ağustos 29, 2008 11:06
Turkish steel maker Erdemir posted a first-half consolidated net profit of 822 million YTL ($694 million), up 119 percent from a year earlier.
Haberin Devamı
It said in a filing with the stock market on Thursday first-half sales rose to 3.75 billion YTL ($3.17 billion) from 2.83 billion YTL ($2.39 billion) last year.
A Reuters poll showed analysts had expected Erdemir's net profit to rise 80 percent year-on-year in the first six months.
The company did not provide figures for its second-quarter performance.
Turkey's Oyak Group conglomerate bought Erdemir in a 2005 privatisation.
Oyak CEO Coskun Ulusoy said earlier this year he saw a 1 billion YTL ($847 million) net profit for Erdemir at the end of 2008 thanks to rising steel prices.