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CORRECTION: $Spar Slovenija Ups Revenue in 2012$

Ljubljana, 19 March (STA) - Please note that the workforce of Spar Slovenije numbers 4,300 and not 300 as wrongly stated in paragraph 4 of the article. Below is the corrected copy in full:

Spar Slovenija Ups Revenue in 2012

Spar Slovenija, a part of Dutch-based grocery chain Spar, generated EUR 720.8m in sales revenues last year, an increase of about 1% over 2011. Considering the economic crisis, CEO Igor Mervič is happy with the results, which indicate that Spar managed to increase its market share last year.

While there is no official information on market shares yet, Mervič estimates that Spar controls about 20% of the market.

The CEO said the retailer's profit remained flat, but did not provide figures.

Employing some 4,300 people, Spar allocated EUR 22m for investment last year, increasing the number of its shops by two to 88.

According to Mervič, investments will continue to rise this year, reaching EUR 50m.

Two new stores are due to be open in the first half of the year, in Škofja Loka and Koper, while the rest of the money will be invested into expansion of the logistic centre in Ljubljana.

Some money will also be invested into expansion of a bakery, which was opened five years ago.

The share of own brands in the total Spar sales revolves around 20%.

Mervič also commented on the recent discovery of horsemeat in Spar tortellini, saying that analyses had confirmed the product posed no health risk but was nevertheless removed from the shelves, in line with the Slovenian legislation. Spar suffered no damage because of this, he added.

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