Turkish company Ulker targets 14% growth

The Turkish candy company Ulker has aimed for a 14% increase in revenue generated from Godiva chocolates, which it owns, after announcing the sale of 20% of the company in order to bolster stock trading.

Turkish company Ulker targets 14% growth

World Bulletin / News Desk

The Turkish candy company Ulker has aimed for a 14% increase in revenue generated from Godiva chocolates, which it owns, after announcing the sale of 20% of the company in order to bolster stock trading.

Yildiz Holding AS which is controlled by the Ulker family is currently valued at $2.34 billion. It has recently sold  68.4 million shares in the company for about $430 million. This has lowered Yildiz Holding’s stake in Ulker to about 57%.

This year Ulker’s revenue is set to increase by 14%. Last year they made a total of 2.5 billion Turkish Liras, which they are aiming to raise to 4.5 billion by 2016. Yildiz Holding also purchased meat company Aytac Et and sugar producer Adapazari Seker, but they hushed rumors about plans to buy Turkish grocery store Migros.

However, Yildiz Holding has made clear its plans to expand abroad outside of Turkey.

Last Mod: 04 Ekim 2013, 11:19
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