Slovenian grocery retailer Mercator said it has made plans to deal with and adapt to the current unfavourable conditions in the financial markets.
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Following a recommendation by the Ljubljana Stock Exchange, Mercator said yesterday (15 October) that its long-term solvency was sound and that it has pursued a “conservative financial policy to wall the company in from the occasional turmoil in the financial sector”.
Mercator has maintained 90% coverage of long-term assets and finances net current assets with short-term bank loans. The company said it also maintains the refinancing risk at a low level, looking to keep the ratio between long-term and short-term financial liabilities at approximately 70-30%.
The company has plans to invest over EUR300m (US$402m) into expansion of its core activities in 2008 and said it is open to new investors willing to finance its investments.
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