| |
2007 |
2006 |
| Average daily net sales (Hürriyet) |
572 |
547 |
| Average number of pages (Hürriyet) |
84,7 |
83,6 |
| Paper used (tons) |
110,596 |
105,535 |
| Average paper price (US$/ton) |
771 |
747 |
| 12-month CPI inflation (%) |
8,8 |
9,6 |
| Annual GNP growth (%) |
4,5 |
6.0 |
| YTL/US$ exchange rate (annual average) |
13.008 |
14.294 |
| YTL/US$ exchange rate (year-end) |
11.647 |
14.056 |
| Change in YTL/US$ exchange rate (based on annual averages) |
-9% |
6.6% |
The Turkish economy grew slightly under the target growth rate of 5% in 2007, and national income reached US$ 658 billion with a 25.1% rate of growth, based on the new calculation method by the Turkish Statistical Institute. Annual per capita income reached an historic high of US$ 9,333. Annual growth in industrial and service sectors reached 5.5% and 6.1%, respectively, whereas the agricultural sector contracted 6.8% due to the ongoing drought. Primary drivers behind economic growth in 2007 were the housing industry, aided by the favorable impacts of the relatively lower loan rates and the export-oriented white goods and automotive sectors. Current account deficit reached US$ 38 billion, 5.8% of GNP; while record levels of foreign direct investment, reaching US$ 22 billion in 2007, played a major role in financing this current account deficit. Privatization and acquisitions, primarily in the banking sector, were the main channels of direct investment inflow. The Turkish Lira appreciated significantly against major currencies, mainly thanks to the US$ 40 billion increase in the private sector's foreign borrowing. For Hürriyet, 2007 was another successful year marked by significant growth in both sales and ad revenue. Hürriyet's average daily net circulation reached 572,000 with a 4.6% increase; whereas its average market share reached 11%. With its 12.2% market share in total advertising market and 39% market share in newspaper advertising, Hürriyet maintained its market leadership in this area.
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Main factors affecting operational performance
