Four of the top five grocery retailers in Bosnia and Herzegovina ended 2016 with a profit, according to local news portal Capital.
Tuzla-based Bingo was the most profitable, ending the year with a profit of BAM 67 million (€34.2 million), followed by locally owned retailer FIS, which recorded a profit of BAM 33.3 million (€17.0 million), Robot with BAM 7.3 million (€3.7 million) and Tropik with BAM 3.37 million (€1.7 million).
Konzum, owned by Croatian retail consortium Agrokor, was the only one to end 2016 in the red, posting a loss of BAM 42.1 million (€21.5 million)
The top five retailers together posted a turnover of BAM 2.4 billion in 2016 (€1.2 billion)
Once again, Bingo was Bosnia's biggest retailer in terms of revenue, posting sales of BAM 915 million (€467.8 million), followed by Konzum with BAM 751 million, FIS with BAM 337 million, Tropik with BAM 208 million and Robot with BAM 182 million.
The financial results confirm data revealed in a Euromonitor report from earlier this year, which highlighted the fact that Bingo surpassed Konzum for the first time in turnover.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine