Pepco Group has posted strong sales growth after rising economic pressures drove shoppers to seek out bargains. The Poundland owner saw turnover expand by 22.8 per cent at constant currency levels to €2.39billion (£2.1billion) for the six months ending March, following solid trade at its Pepco outlets. Economic growth across both regions has also flatlined, providing a considerable opportunity for discount retailers to build a bigger customer base. Pepco Group is majority owned by South African holding company Steinhoff International, which listed the retail group in Warsaw two years ago in a significant blow to the London Stock Exchange. The business sells goods from 4,127 establishments across 19 countries, most of them in Eastern Europe under the Pepco brand, as well as over 900 Poundland stores in the British Isles and about 200 Dealz outlets.

Source: Daily Mail April 21, 2023 00:59 UTC