Mercator reports strong H1 profit growth | Progresiv
Slovenian retailer Mercator has reported a strong rise in profits for its fiscal first half, although revenues remained almost flat. 
For the six months, revenue edged up 0.4% to 1.06 billion euros, while operating profit jumped up 77% to 30 million euros, and net profit surged up 58% to 2.4 million euros.
The group opened 10 new outlets during the half, while divesting 10 shopping centres in Slovenia. Mercator invested 9.7 million euros during the half, down nearly 30% from last year, with more than half of this amount going towards the upgrade of existing stores. The group also began work on a new logistics and distribution centre in Serbia, as it looks to expand its presence in that country.
At the end of the half, Mercator operated 653 outlets in Slovenia, 328 outlets in Serbia, 76 outlets in Bosnia and Herzegovina, and 118 outlets in Montenegro. The group operates hypermarkets, supermarkets, neighbourhood stores, and cash & carry outlets. (www.kamcity.com)
