Luxembourg: ArcelorMittal, the world’s largest steel company, reported on Wednesday an annual net profit of $10.36 billion in 2007.
The results represented a 30% increase from 2006 when the steelmaker posted a pro forma net profit of $7.9 billion, the company said in a statement.
The 2007 results marked the first full year following the merger of Arcelor and Mittal Steel in June 2006.
“I a very proud of the way the two companies have integrated so successfully, building a steel company which is focussed on leading the transformation of our industry towards a sustainable future,” said Lakshmi Mittal, president and CEO, in the statement.
“Today’s result clearly demonstrate the considerable progress that we are making in this regard,” he said.