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Mercator Makes No Profit

Marcator's management had shown nothing that we could call success during the four years of Kazimir Živko Pregl's chairmanship, head of Mercator's supervisory board, Miran Goslar told a news conference on Friday after yesterday's ouster of Pregl. Goslar said Mercator was currently making neither profit nor loss and would therefore not be able to pay out dividends and make new investments. Zoran Jankovič, Mercator's new chairman of the Board, said his first steps would include realistic evaluation of Mercator, measures aimed at increasing productivity, reduction of costs and rationalization of ongoing investments.

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© STA, 1997