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Slovenia's Mercator swings to cons net loss in Q1

Slovenia's Mercator swings to cons net loss in Q1 Author: Mercator. License: All rights reserved.

LJUBLJANA (Slovenia), May 31 (SeeNews) – Slovenian retailer Mercator [LJE:MELR] said on Friday it swung to a consolidated net loss of 3.7 million euro ($4.1 million) in the first quarter of 2019, from a net profit of 1.9 million euro in the prior-year period.

Consolidated revenue fell 3.1% on the year to 499.8 million euro, while the results from operating activities (EBIT) rose to 9.6 million euro in the first quarter, which is an increase of 5.6% over the same period of last year, Mercator said in a filing to the Ljubljana Stock Exchange.

By monetizing its real estate, Mercator repaid a considerable portion of its financial debt, the company said.

The Mercator Group's EBITDA totalled 39.8 million euro in the January-March period; in the equivalent period of the preceding year EBITDA amounted to 25.8 million euro, according to restated data.

($ = 0.89804 euro)