The retail group Pepco Group NV was also able to grow strongly in the first half of the 2022/23 financial year. This emerges from an interim report published by the parent company of the discounters Pepco, Dealz and Poundland on Wednesday.
Accordingly, group sales in the period from October to March reached a level of 2.84 billion euros. This corresponded to a currency-adjusted increase of 22.8 percent compared to the corresponding prior-year level. The company, which is eager to expand, benefited not least from numerous new store openings. On a like-for-like basis, currency-adjusted sales grew by 11.1 percent.
The retail chain Pepco, whose branch network has been expanded by 134 new locations since the beginning of the financial year, developed with above-average dynamics. The discounter increased its currency-adjusted sales by 36.9 percent to EUR 1.72 billion, with a like-for-like growth rate of 15.8 percent. The sales of the Poundland Group division amounted to 1.12 billion euros and thus exceeded the corresponding previous year’s level by 6.3 percent after currency adjustments (like-for-like and currency-adjusted +4.9 percent).
The group confirmed that it intends to stick to its course of expansion. The stated goal remains to open at least 550 new branches in the current financial year. After the branch network was expanded by 166 locations in the first half of the year, the pace of expansion is to be increased again in the coming months. Market entry in Portugal and Bosnia and Herzegovina is also planned.