Poundland owner Pepco first quarter revenue jumps 13%
LONDON, Feb 5 (Reuters) - Pepco Group , the owner of
British discount retailer Poundland, reported strong revenue
growth in its first quarter and said it was confident of more
growth in the balance of the financial year.
The retailer, which also owns the PEPCO and Dealz brands in
Europe, said revenue in the quarter to end-December rose 13.3%
to 1.143 billion euros ($1.26 billion), partly driven by new
stores. Like-for-like revenue growth was 3.9%.
Pepco Group is part of troubled South African conglomerate
Steinhoff , which has been battling the fallout from a
2017 accounting scandal.
Steinhoff said last year it was evaluating a range of
strategic options for Pepco Group, including a potential public
listing.
($1 = 0.9060 euros)
(Reporting by James Davey; editing by Jason Neely)
((james.davey@thomsonreuters.com))
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