Ülker Bisküvi’s shares climbed more than 5.5% on Wednesday after the Turkish confectionery company reported second-quarter net profit of 1.4 billion lira ($29.2 million), far exceeding market expectations.
The Istanbul-listed stock pared its year-to-date losses to 5.22% following the earnings release. Brokerage Ak Yatırım had forecast a net profit of 225 million lira for the quarter, highlighting the magnitude of the beat.
Analysts attributed the stronger-than-anticipated results to reduced foreign-exchange losses and higher monetary gains, factors that mitigated the impact of lira volatility. Ak Yatırım noted that the outperformance could bolster sentiment toward the stock, which has underperformed in recent months.
Ülker Bisküvi, a major player in Turkey’s packaged foods sector, operates in a market sensitive to currency fluctuations and domestic demand trends.
