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News
Mercator generates sales increase only in Montenegro
Comments
Mercator published the report for the first nine months of 2014 which comprises sales decrease of 3, 6% with an improvement though still negative net result.
In first nine months, the Group generated almost 2 m profit, which is 3,6% than in the same period last year. Sales decrease was generated at all markets where Mercator is present apart from Montenegro where it recorded increase of 5,3%. Sales decrease is mainly due to shut down of less FMCG programs, transferring retail network in Croatia and Bosnia and Herzegovina into Konzum within the integration process as well as declining shopping power trend in Slovenia and Croatia.
Apart from that, out of 57, 1% of total sale was generated in Slovenia, 20,5% in Serbia, 11,4% in Croatia, 6,9% in Bosnia and Herzegovina and 4,1% in Montenegro.
In the end, loss at the bottom line was generated although the amount decreased by 31,5% compared to the same period last year, totaling EUR 12 m.
It will definitely be interesting to monitor in the future what kind of results will be generated through Agrokor’s recent takeover of Mercator.
