Slovenian grocery retailer Mercator has reported a 43% increase in first-quarter net profit to SIT798m (US$4.0m).

The company posted group net sales of SIT84.7bn, a rise of 12.6% compared to the first quarter of the previous year.

“The results of the first quarter of 2004 are in line with the dynamics of business activities in the retail branch over the first quarter,” Mercator was quoted by Reuters as saying.