Poundland owner Pepco sales rise as it continues store expansion - Indoors Beauty

Poundland owner Pepco sales rise as it continues store expansion

Poundland owner Pepco sales rise as it continues store expansion

Pepco Group, the owner of Poundland, has reported a 19.7% enhance in income to £2.4 billion (€2.8 billion) for the primary half ending 31 March 2023, reflecting its funding in shops. 

Like-for-like sales grew 11.1% throughout the group, with Pepco sales up 15.8% and Poundland up 4.9% within the six months.

For H1, Pepco Group additionally shared the next outcomes:

  • Gross revenue up 16.9% to £947 million (€1.1 billion).
  • Gross margin down 0.9 pp to 40.1%.
  • Underlying EBITDA up 8.6% to £324 million (€377 million).
  • Net debt was £329 million (€383 million).

The group’s store footprint elevated 12% year-on-year to 4127, pushed by progress of Pepco in Western Europe. It can be on monitor to open at the least 550 new shops throughout present monetary 12 months.

Trevor Masters, CEO of Pepco Group, stated: “The group continued to make sturdy progress in opposition to our strategic aims over the half 12 months, whereas delivering a rise in revenues and underlying EBITDA.

“We opened 166 internet new shops within the interval and are assured on assembly our goal of at the least 550 internet new shops this monetary 12 months, as a part of our focused and worthwhile opening programme.

“We stay nicely positioned and within the second half will see gross margins trending upwards, as we profit from the tailwinds on sure enter prices, together with commodity and freight.

“We are targeted on executing our technique and stay on monitor to ship full 12 months EBITDA progress according to earlier steering.”

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