Slovenia's largest retailer Mercator posted a EUR 72.7m loss for 2016.

This is more than what many were expecting.

Mercator made a EUR 20m profit in 2015.

This follows media reports that Mercator had incurred significant losses because it did not receive rent for stores in Bosnia that are owned by Mercator but managed by parent company Agrokor.

Sales fell in all the former Yugoslav countries: 4% in Slovenia, 6.5% in Serbia, 9.3% in Croatia and 3.7% in Bosnia.