Turkey’s Yıldız posts 12.4 billion lira yearly turnover

Turkey’s Yıldız posts 12.4 billion lira yearly turnover

ISTANBUL - Hürriyet Daily News
Yıldız Holding, one of the largest food companies of Turkey, logged a 12.4-billion-Turkish Lira turnover, announcing a raise of 587 million liras with a net profit increase of 64 percent in a year.

Foreign revenues of the company, which owns Turkey’s Ülker and Godiva, have also surged by 19 percent during the same period, according to figures announced yesterday during a press meeting.

The jump was attributed to a restructuring of the company’s internal organization as part of a simplification program as well as company sales – it sold its stakes in the BİM retail market – and new partnerships.

“Firstly, we reduced the subsidiaries of our companies traded in the bourse and gathered production and sales in a single structure. Secondly, we renewed our sales units in a way to yield more sustainable efficiency,” Yıldız Holding CFO Cem Karakaş said.

The company also founded a new partnership with Japanese Nissin Foods. Chocalte brand Godiva continues its growth in the Far and Middle East and for the first time in history its global sales surpassed North American sales, the company said.