Poundland parent’s sales and profits rise as UK shoppers rein in ‘essential’ spending

Poundland logo on phone screen against a Poundland background

Poundland owner Pepco Group has said UK shoppers are “scaling back even on essential purchases” amid the cost-of-living crunch.

The group recorded a 7.3% uplift in underlying EBITDA to €347m (£318m) in the first half to March 31, 2022, driven by a 19% surge in revenue to €2.4bn (£2bn).

The retail group recorded a 3.3% uplift in like-for-like sales during the period for the Poundland division of its operations.

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