Pepco Group, the owner of Pepco, Poundland and Dealz, has posted a 24% increase in group revenue to €1.65 billion in its first quarter. On a constant currency basis, revenue was up 27% year-on-year.
In the three months to 31 December, group like-for-like sales climbed by 13% on a constant currency basis, with all brands delivering strong growth. This included like-for-like increases of 4.4% and 19.7% respectively for Poundland and Pepco.
The group performed particularly well in Western Europe, especially in Italy and in Spain. It is now planning to launch in Portugal in spring 2023.
During the quarter, Pepco Group completed 37 store renewals at Poundland, where it is continuing its Diamond refit programme with the addition of chilled and frozen food.
