Pepco Group, owner of the Dealz, Pepco and Poundland discount retailer brands in Europe, on Tuesday reported a 46 per cent rise in full-year core profit, reflecting new store openings.

The group said it made underlying earnings before interest, tax, depreciation and amortisation (Ebidta) of €647 million in the year to September 30th – in line with guidance of €640-655 million.

Pepco, which listed on the Warsaw stock market in May with a valuation of €5 billion, increased revenue 19.4 per cent to €4.12 billion.

New store openings were 483, taking the total to 3,504. The group said it has a strong new store pipeline for 2021-22 and beyond. – Reuters