Pepco Group H1 revenues rise but profit hit by Covid-19

In an interim business update for the six months to March 31, 2020, Pepco Group, owner of the Pepco and Dealz brands in Europe and Poundland in the United Kingdom said that the company saw revenue growth of 9.7 percent to 1,912 million euros from space expansion in Pepco & Dealz brands plus positive LFL growth. The company said in a statement that PBT of 89 million euros reflects Covid-19 impact in March with significantly reduced store trading footprint and footfall, however group’s balance sheet remains strong with net debt of 478 million euros, representing 1.5x last twelve months EBITDA.