At the end of last year, the total profit of the five largest retail chains in Montenegro – Voli, Laković, Franca market and Mercator-CG was EUR 19.43 million, which is 47.42 percent more compared to pre-crisis 2019.
In total, revenues last year amounted to EUR 846.8 million, and compared to 2019, they increased by almost EUR 170 million, i.e. by a quarter.
“After the tax reforms that meant more money to spend, large retailers and distributors are taking advantage of the absence of effective market regulation. So it happened to us that instead of more money in circulation meaning increased investments that power entrepreneurship, a significant part of it flowed and continues to flow into the profit of trade chains – different types of goods”, said Perić.
The biggest profit of EUR 11.61 million was made by Voli, which manages a number of stores of the same name and our discount store. The realized profit is EUR 6.74 million higher than in 2019.
Hard discount Laković had a profit of EUR 5.6 million last year, which is EUR 700,000 more than in 2019. Franca markets had a profit of EUR 2.2 million, or EUR 600,000 more than in 2019.
Mercator Montenegro, which includes the Idea market chain, was the only retail chain that ended the last business year with a loss of EUR 997 thousand, while in 2019 they made a profit of EUR 1.04 million.
