Poundland owner revenues hit €5.6bn in FY23
Full-year EBITDA is expected to be approximately €750m (£647m)

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Pepco Group, owner of Poundland in the UK and Dealz brands in Europe, reported a 17.7% revenue increase to €5.6bn (£4.8bn) during FY23.
The revenue increase was a result of strong growth of 24.8% at its Pepco brand and 8.4% at Poundland. Group revenue for the fourth financial quarter ended on 30 September amounted to €1.4bn (£1.2bn), up 12.5% year-on-year (YoY) on a constant currency basis, with Pepco up 12.6% and Poundland Group up 12.4%.
Group like-for-like (LFL) revenues were flat in Q4, and up 6.0% during the year. Pepco LFL revenue declined 2.4% in Q4 reflecting challenging trading, however LFL was up 6.3% in FY. Poundland Group LFL was up 4.1% in Q4, and up 5.6% in FY.
Full-year EBITDA is expected to be approximately €750m (£647m).
The Group delivered a record 668 net new store openings during the financial year, significantly above the minimum target set of at least 550 net new store openings. Overall, 343 new stores were opened during Q4.
Commenting on the results, Andy Bond, executive chair of Pepco Group, said: “Group performance over the past year has been mixed against a challenging market backdrop.
“As first announced on 12 September, the trading environment deteriorated significantly in the last quarter across Pepco’s markets, notably in Central and Eastern Europe (CEE), with weaker sales, a lower than forecast gross margin and higher costs, resulting in a reduced level of profitability in our core markets, which we are addressing.”
Bond added: “I look forward to outlining my key priorities at the upcoming Capital Markets Day, which includes refocusing on customers in our core CEE business, implementing a more targeted growth plan in markets where we have a presence, and accelerating the transition into a single business.
“By doing so, we aim to improve profitability and cash generation in our established business and deliver more measured growth. With a market-leading customer proposition, strong balance sheet and resilient operating cash flow, the Group is well placed for future success across Europe.”