The Vero supermarket and retail group posted increased profitability and stable revenues for 2016, with turnover from the group’s outlets in the former Yugoslav Republic of Macedonia (fYRoM) and Serbia up by 0.67 percent (yoy).
Turnover reached 99.2 million euros.
Pre-tax profits increased by 18 percent, 11.3 million in absolute terms, up from 9.6 million euros in 2015.
After-tax profits reached 10.2 million euros, up from 8.7 million euros in 2015.
Sales are forecast to rise in 2017, according to the Greek retailer’s management.
Vero, which operated under the Veropoulos brandname in Greece, sold its underperforming supermarket network in the country to the MyMarket group. It retained its profitable Balkan operations.
A new Vero supermarket outlet opened in 2017, along with a Jumbo toy hypermarket, with another four stores set to open in the next six months.
Vero holds the Jumbo franchise for Serbia.
Vero S.A. operates 17 super markets (under the label Vero and Super Vero and five toy and home wear stores - with the franchise system under the Jumbo brandname. It employs 1.500 people in three countries in SE Europe.
