Slovenian Top Retailer Mercator 9-mo Group Net Profit Falls 51.8%

The company has faced remarkably challenging economic conditions resulting from the global financial crisis and its effects on the real economy, it said in a statement posted on Ljubljana Stock Exchange (LJSE) website.

Despite the harsh circumstances, Mercator Group generated over 2.0 billion euro of net sales revenue through September, assuming constant exchange rates, which is 2.3% up on year, the statement added.

In the first nine months of the year, Mercator carried out its development and investment activities as planned, it added. The group's investments, totalling 93.6 million euro, were mostly allocated for the development of its retail network.

"The opening of a hypermarket in Stara Zagora in October 2009 denoted Mercator's entry on the Bulgarian market,” the statement said.

Outside Slovenia, the Mercator group (www.mercator.si) is present in Serbia, Croatia, Bulgaria, Montenegro and Bosnia. The group has announced plans to enter Albania by the end of 2009 and to also set foot on the markets of Macedonia and Kosovo.

No trading data on Mercator shares was available from the LJSE website by 1408 GMT on Thursday. Its stock closed down 2.68% at an average price of 172.41 euro ($256) on Wednesday.

($ = 0.6722 euro)