Hardware Retail Chain Ends 2007 with Bigger Revenues, Profits
The hardware retail chain Merkur had a very successful 2007, according to preliminary business results. The Naklo-based group managed to increase revenues by over 15% to EUR 1.15bn, while operating profit stood at EUR 24.1m.
The group, 98.5% of which was acquired by its managers in December, experienced growth in all segments, with sales abroad increasing by more than 50%, the group wrote.
The group's costs also increased by 13.7% with employee-related expenses amounting to just under half of total expenses.
Taking into account the profit from the sales of securities (EUR 13.9m), the group's projected profit after tax will amount to EUR 33.86m.
The group did not launch any major investment projects in 2007, apart from opening a new centre in Novi Sad (Serbia) and enlarging its stores in Zadar (Croatia) and Slovenia's Celje.
It, however, plans to launch the construction of twelve new retail centres in 2008.
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