Mercator Increases Revenues, Profits in Q1

Date: 05/14/2008
Category: Latest news

Ljubljana, 14 May (STA) - The retailer group Mercator generated net revenues to the tune of EUR 611m, a 13.8% rise year-on-year. The largest Slovenian retailer posted a net profit of EUR 9.3m, 15.6% more than in the same period last year and 23% of this year's plans, the retailer wrote on Wednesday.

The upbeat results were mainly caused by the group's better-than-expected retail abroad, as net profit in Slovenia stood at some 2% less in the first quarter of 2008, year-on-year. Mercator opened stores in Nis (Serbia) and Koper (Slovenia) and a hypermarket in the Supernova retail centre in Ljubljana, the company wrote. The company suffered a negative impact from rising inflation, which reduced the purchasing power of households. The profit was also down due to Mercator's measures to offset food price increases by suppliers, which resulted in reduced margins.