TURKEY: Ulker Q1 net profit jumps, ups stake in Biskot
Turkish confectioner and snack maker Ulker has reported bottom line growth of 13% to TRY51m (US$24.6m) despite negative currency effects for the first quarter of 2014.
For the period ended 31 March 2014, the firm also posted EBITDA growth of 14% to TL88mn thanks to "tighter expense management".
Sales were also up 11% to TL793m as a result of increased sales across the biscuit and cakes categories. Chocolate sales however fell due to price increases.
The firm also announced it is upping its stake in Biskot Biskuvi Gida by a further 30%. Ulker held a 43.5% stake in the business before the acquisition.
Synopsis The report provides a review of the mergers and acquisitions (M&As), partnering deals, and agreements entered into by companies active in the global confectionery market during May 2014. Sum...
This week, Turkey's Yildiz Holding struck a deal - said to be over GBP2bn - to buy United Biscuits and the Turkish group's CEO took to Twitter to hail the agreement. Meanwhile, German dairy giant Mull...
Synopsis The report provides a review of the mergers and acquisitions (M&As), partnering deals, and agreements entered into by companies active in the global bakery & cereals market during May 2014. ...
Higher sales and lower tax expenses have lifted net profit levels at Turkish biscuit maker Ulker Biskuvi despite a fall in operating income in the first nine months of the year....
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This company database offers the most up-to-date company information on bakery product producers in the world. The report includes details for more than 14,000 bakery product producers in the world wh...
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