Poundland owner Pepco’s profits soar as new store openings boost sales

Poundland Stoke fascia

Pepco has recorded strong growth in profits despite “a challenging Covid-affected trading environment”.

The discount retailer, which owns the Pepco and Dealz brands in Europe as well as Poundland in the UK, reported growth in underlying EBITDA to €647m (£552m) for the year ending September 30, 2021 – a 46.2% increase on the “Covid-impacted prior year”.

Revenues for the group also rose 19.3% to €4.12bn (£3.52bn) on a constant currency basis across the year. This included sales growth of 3.1% for the Poundland group.

The group also increased its store portfolio, with 483 net new stores opened in the year to 3,504. This figure also includes the 59 Fultons Foods stores that Pepco acquired in the UK.

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