Mercator sees 2008 profit slump

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Carl Collen

BY CARL COLLEN

Mercator sees 2008 profit slump

The Slovenian group has endured a difficult year as a result of higher financing costs and the global economic crisis

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Mercator has reported that group net profit has fallen 8 per cent to €40.6m for the full-year of 2008, and has forecast that 2009 could see a further slump as the global economic slowdown continues.

Revenues for 2008 are expected to rise to a final figure of €2.7bn, an increase of 9 per cent, with 2009 set to bring another increase, of 5 per cent to €2.8bn.

Additionally, the group is set to invest €159m next year to expand the company, Reuters reported.

"The planned (2009) net profit is lower mainly due to the planned lower profit margins and higher costs of financing," the group said in a statement.

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