Slovenian supermarket group Mercator has booked an increase in first-half profits despite “highly challenging” economic conditions in the period.

For the six months to the end of June, the retailer earned EUR17.7m (US$22.4m) compared to EUR11.3m in the prior year period. The figure was positively impacted by an increase in revenues, marketing and development activities, and business rationalisation measures.

Mercator generated revenues of EUR1.33bn in the period, 3.9% more than in the corresponding period last year

Operating profit climbed to EUR53.1m from EUR40.5m last year.

The retailer said it has revised its full year estimate based on the development of economic conditions and relevant business aspects in the second half of 2010.

Revenues are expected to amount to EUR2.83bn, a 7.1% increase on 2009, and EBITDA is forecast at EUR170.2m, a 1.8% increase on last year.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Click here to view the full earnings release.