Mr. Mehmet Tutuncu, Chief Executive Officer of Ulker, commented about the performance of Company:

2014 nine month results came in at parallel to our expectations considering political instability in neighboring countries, and rising input costs. Even though our exports revenue eased down, growth trend prevailed at high single digits, which supported our belief to achieve our year end targets.

Even though high input costs  weigh on our operations, we were able to sustain our margin thanks to tight opex management, simple and effective production process as well as well positioning ourselves against changing market conditions which supports our near term expectations.