Agrokor Impacted By Retail Competition, Commodity Price Declines In 2018
Croatia’s Agrokor Group, which recently emerged from extraordinary administration, has said that its Retail and Wholesale segment posted a 3.9% decline in revenue to HRK 29 billion (€3.91 billion) last year, due to ‘new competitor store openings in Serbia and Montenegro’.
At the same time, however, the loss of revenue arising from the closing down of unprofitable Konzum stores was offset by ‘strong like-for-like revenue growth’ of 5.7%, the group said.
Agrokor commenced trading under a new name, Fortenova Group, on 1 April.
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