Dealz owner Pepco Group reported a 17.5 per cent increase in first-half revenue, driven by new store openings.

The group, which also owns the European discount retailer brands PepCo and Poundland, said revenue totalled €2.37 billion in the six months to March 31st as it opened 192 new stores, taking the total to 3,696 across 17 countries.

It said like-for-like sales growth was 5.3 per cent, driven by growth of 12.1 per cent in the second quarter.

Pepco forecast first-half core earnings (EBITDA) within a range of €342 million to €350 million.

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“Within this range, the group remains on track to meet guidance for the full year in the absence of any further significant deterioration in the macro environment,” it said. – Reuters