Pepco Group revenues increased by 25.1% y / y to EUR 1,020 million in Q2.

Pepco Group recorded EUR 1,020 million in revenues in Q2 of the fiscal year 2021/2022 (i.e. January-March this year), which means an increase of 25.1% y / y (assuming a constant exchange rate), the company said. The group's sales under comparable conditions (LFL) increased by 12.1% y / y in Q2.

The group's revenues for the first half of the year increased by 17.5% y / y to EUR 2,371 million, led by PEPCO, which recorded an increase of 28.9%, the announcement said.

The company emphasized "strong semi-annual growth of the group's sales under comparable conditions (LFL) by 5.3% thanks to faster LFL growth in the second quarter by + 12.1%:

* PEPCO: + 18.5% LFL growth in Q2 and + 7.2% LFL in the first half of the year.

* Poundland Group: + 5.9% LFL growth in Q2 and + 3.3% LFL in the first half of the year, ”the press release said.

“We are very pleased with the results we have achieved given the global disruptions our industry is facing. We continue to focus on our strategic priorities, in particular on the development of new stores and the continuation of the modernization program, which are very positively received by customers and bring good results, ”said Masters, quoted in the release.

While the impact of COVID-19 gradually declined in Q2, the invasion of Ukraine - a country bordering three of our largest territories - caused further instability and unpredictability, he stressed.

Pepco Group operates in two market segments: through PEPCO (a chain of multi-branch discount stores) and Poundland / Dealz (a chain of stores operating in the model of impulse purchases of groceries, general purpose, seasonal and basic necessities sold in the uniform price formula). The company made its debut on the WSE in May 2021.

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