August 26 (SeeNews) - Slovenian retailer Mercator [LJE:MELR] said it turned to a consolidated net profit of 15.3 million euro ($17.5 million) in the first half of 2015 from a net loss of 13.7 million euro a year earlier.
Consolidated revenue fell 1% on the year to 1.29 billion euro through June, the company said in a statement filed with the Ljubljana bourse on Tuesday.
The revenue data is not fully comparable to last year due to the change in the company's revenue profile as most of its revenue since January 1, 2015, has been generated in Slovenia and Serbia, Mercator said, adding that the structure of revenue by countries has changed considerably relative to last year, especially due to the consolidation of trade operations in respective markets following the acquisition of Mercator by Croatian food-to-retail concern Agrokor.
Away from its home market in Slovenia, Mercator Group also has operations in Croatia, Serbia, Bosnia and Montenegro.
In Serbia, revenue increased considerably due to the transfer of retail units of the company Idea to Mercator's Serbian unit, Mercator- S. In Croatia and Bosnia and Herzegovina, revenue dropped substantially due to the transfer of Mercator's retail units to the company Konzum in Croatia and to Konzum in Bosnia and Herzegovina.
The Slovenian group operated a total of 1,439 retail units by the end of June, including franchised stores.
In July last year, Agrokor closed the acquisition of a 53.12% stake in Ljubljana-listed Mercator.
($=0.876 euro)
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