Business News

Mercator Group Boosts Revenues by 6% in First Quarter

Ljubljana, 17 May (STA) - The Mercator group posted EUR 676m in revenues in the first quarter of 2011, up 6% year-on-year, and generated a EUR 10.18m net profit, slightly above plans, Slovenia's largest retailer said in Tuesday's press release.

In the first three months of this year, the group spent EUR 47.4m on investments or 38.1% of the annual investment plan.

The bulk of the investment went for the development of the group's retail network. The group opened 8,453 sq metres of new shops in this period, of which 73% is being rented.

At the end of March, the Mercator group employed 23,589 people, 48.2% of them on foreign markets.

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