Home Business NewsBusinessBusiness Growth News Pepco Group saw Christmas revenue jump

Pepco Group saw Christmas revenue jump

by LLB Reporter
5th Feb 20 1:06 pm

Pepco Group who own Poundland saw a jump in revenue boosted by growth across Europe over the past three months.

Pepco had a 13.3% increase in total group revenues to £960m in the three months to December 2019.

Sales saw a like-for-like increase by 1.3% in the period for Poundland and its market share grew “in the context of a weak consumer backdrop.”

Andy Bond, chief executive of Pepco said, “Pepco Group has continued to deliver operational and strategic progress in this important trading quarter, reflecting our clear growth strategy centred on the significant long-term opportunity for further PEPCO stores in central Europe, together with a focus on day-to-day retail execution.

“This combination has secured another quarter of strong revenue growth, both in total and like-for-like terms, in each of the group’s brands.

“With an established strategy, leading customer proposition within a structurally advantaged discount retail segment and a strong financial base, we remain confident about our prospects for continued growth across Europe in the balance of the financial year and beyond.”

During the period Pepco branded stores across Europe reported 24.6% revenue growth to £504m.

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