Ljubljana, 08 May (STA) - The retail group Mercator posted a EUR 25.8m in earnings before interest, taxes, depreciation, and amortisation (EBITDA) in the first quarter of the year, or 36.5% more compared to the same period in 2017. The group also saw its sales revenues increase by 1.3%, according to preliminary data released by Mercator on Tuesday.

The group's operating profit meanwhile stood at EUR 9.1m in the first quarter of the year, with Mercator bouncing back from a EUR 0.2m loss in the same period last year.

Mercator chairman Tomislav Čizmić said in the press release that the new strategy was "ensuring growth and good business results", adding that the group remained focused on the principal activity, with higher profitability being the main goal.

The positive results come after Mercator said at the end of April that the group had made a net loss of EUR 184.4m last year, mostly due to revaluation of real estate.

The group nevertheless recorded growth in net retail sales last year for the first time after 2011 (up by 2.5% to EUR 1.6bn).