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”.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

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.

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now