Business News

Spar Slovenija Says Revenues Up, Profit Flat

Ljubljana, 16 March (STA) - Spar Slovenija, a part of Dutch-based grocery chain Spar, generated EUR 695m in sales revenues last year, an increase of 2.3% over 2009. The group said its profit remained flat, but did not provide figures.

Spar Slovenija general manager Igor Mervic said that the increase in sales means that Spar has managed to increase its market share since the grocery market in Slovenia was flat last year.

Mervic said that Spar was not troubled by ongoing difficulties on the Slovenian market. It achieved this with the help of investments into new shops (four were opened last year) and renovation of existing ones.

Total investment in 2010 amounted to EUR 20m and a similar amount will be set aside for development this year.

Spar Slovenija currently operates 82 shops in Slovenia and has 4,224 staff. With around 20% of the Slovenian market, it is the second-largest retailer in the country.

It recently opened a new hyper market in Novo mesto and has plans to open another hyper market, a super market and a regular shop before the year is out. In all it expects to create 200 new jobs this year.

While refusing to provide details of its profit for 2010, Mervic said profitability was below the European average.

Meanwhile, Mervic also touted Spar as a grocer that is friendly to Slovenian producers. "We support and will continue to support Slovenian production," he said.

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