By D. Alexaki
Major Greece-based supermarket retailer Sklavenitis posted a significant increase in revenues for 2015, to the tune of 40 percent, a figure attributed to a series of buyouts and mergers completed by the group.
Net profits were significantly up, a development that renders Sklavenitis as a prospective actor in practically every scenario related to mergers and purchases in the domestic retail grocery sector.
According to Sklavenitis’ published results for 2015, revenues reached 1.74 billion euros, up from 1.23 billion euros in 2014. Profits reached 41.8 million euros, a distinct improvement from the 16-million-euro for 2014, with net profits reaching 25.6 million euros; up from 9.6 million euros in the previous year.
Liabilities, however, also increased, reaching 812.4 million euros from 622.2 million euros in 2014.
Arrears to suppliers totaled 444.2 million euros.
