Poundland-owner Pepco's revenue jumps in Christmas quarter
LONDON, Feb 5 (Reuters) - Pepco Group , the owner of
British discount retailer Poundland, on Wednesday reported
rising revenue in the Christmas quarter and forecast more growth
in the balance of its 2019-20 financial year.
Pepco Group, which also owns the PEPCO and Dealz brands in
Europe, 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.
However, Sky News reported on Monday that three private
equity firms - Advent International, Hellman & Friedman and Mid
Europa Partners - have teamed up to plot a possible bid for
Pepco Group that could value it at more than 4.5 billion euros
($5 billion). [nL4N2A33TX]
Pepco Group said its revenue in its fiscal first quarter to
end-December rose 13.3% to 1.143 billion euros.
The revenue growth reflected a 14.8% increase in stores to
2,809, along with an increase in like-for-like revenue of 3.9%.
($1 = 0.9060 euros)
(Reporting by James Davey, editing by Louise Heavens)
((james.davey@thomsonreuters.com))
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