Poundland owner posts growth as it continues European roll-out

6th June 2023 |

The parent group of Poundland has reported a strong uptick in revenue during the first half of the year, as it continues its expansion across Western Europe.

Revenue at Pepco Group increased by 22.8% in the six months to March 31, reaching €2.8bn (£2.4bn), however pre-tax profit fell by 5.7% to €134m (£115.4m).

Like-for-like sales at Pepco and Poundland grew by 15.8% and 4.9% respectively.

The group said that it is on track to open at least 550 ‘net’ new stores by the end of the financial year. Pepco ended March with an estate of over 4,100 stores, an increase of 12% year-on-year. This included 24 openings for Poundland, however the discount retailer shuttered 28 sites as part of its long-term plan.

Trevor Masters, chief executive of Pepco Group, said: “Our growth strategy in Western Europe is progressing well, reflecting the strong appeal of the Pepco brand to customers across the whole continent. Italy, where we recently opened our 100th store, and Spain”.

In May, the Pepco brand opened its first store in Portugal.

“We are focused on executing our strategy and remain on track to deliver full year EBITDA growth in line with previous guidance”, Masters added.


Looking for more retail news? you might find these interesting