SLOVENIA: Mercator profits edge up

By just-food.com | 12 May 2010

Slovenian supermarket group Mercator has posted single-digit growth in profits and sales for the first quarter.

The company said that net profit rose 3.1% during the period, climbing to EUR6.65m (US$8.4m). Sales increased 3.2% during the three months, climbing to EUR637.2m.

Mercator said that its results were boosted by the investments it has made in its retail network as well as its acquisition of Croatian retailer Getro.

However, the company added that difficult economic conditions had continued to have a negative impact on its performance.

“Economic conditions, linked to the global financial crisis, remained difficult and unpredictable in the first quarter of 2010,” the company said.