Business News

Mercator Expects to End Year With Profit of EUR 30m

Ljubljana, 01 December (STA) - Slovenia's top retailer, Mercator, expects to finish 2010 with a net profit of EUR 30m, an increase of 42% on last year. Revenues at the group are forecast to top EUR 2.8bn, which is 5.2% more than last year, Mercator said in Wednesday's press release.

The group had recently reported revenues in excess of EUR 2bn and a net profit of EUR 28m for the first three quarters of the year. The latter was up nearly 60% on the same period last year.

Investments into the retail network amounted to EUR 65m in the first nine months, with the group announcing investments amounting to another EUR 55m before the end of the year.

The group operated a total of 1,494 stores, including franchise stores, in seven countries - Slovenia, Croatia, Serbia, Bosnia-Herzegovina, Montenegro, Albania and Bulgaria.

While being the biggest grocer in Slovenia, Mercator is also the second-largest grocer in Serbia and Croatia and the top grocer in Montenegro.

Continuing its expansion drive, the group said it expected to enter the Kosovo and Macedonian markets by late 2011 or early 2012.

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