| ArcelorMittal posts $10bn profit in 2007 |
| Agencies / Luxembourg February 13, 2008 |
| ArcelorMittal, the world's largest steel company, today reported 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 am 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, ArcelorMittal. "Today's result clearly demonstrate the considerable progress that we are making in this regard," he added. Total return to ArcelorMittal shareholders was $4.4 billion in 2007 of which $1.8 billion was in cash dividends and $2.6 billion in share buy-backs, the statement said. "As per the company |
