Pepco Group has posted a 17.2% increase in full year revenue to €4.122 billion as it continues its roll out of new stores.
In the year to 30 September, like-for-like sales increased by 6.5% after growing by 9.8% and 3.1 % at Pepco and Poundland Group respectively.
The group’s gross profit margin climbed by 220 bps to mark a return to 2019 levels, which was driven by mark down improvements and the product mix despite a backdrop of supply chain headwinds.
Full year underlying EBITDA came in at €647 million which represented 46.2% growth on the Covid-19 impacted prior year.
During the period, Pepco opened a net 364 stores to mark a 17.3% increase on the previous year. This included 36 in the group’s strategically important western European market.
Meanwhile, Poundland Group opened 119 net new stores which was primarily driven by Dealz’s expansion in Poland and Spain.
