Poundland owner Pepco sees more than expected annual profit By Reuters

© Reuters. FILE PHOTO: A Poundland store in London, Great Britain, November 10, 2015. REUTERS / Stefan Wermuth / File Photo

LONDON (Reuters) – Pepco Group, owner of UK low-cost retailer Poundland, forecast full-year basic profit on Thursday at the high end of market expectations after rising 19.4% in revenue.

The group, listed on the Warsaw Stock Exchange in May with a valuation of 5 billion euros (5.8 billion dollars), also owns the PEPCO and Dealz brands in Europe.

He said year-over-year revenue was € 4.1 billion, with comparable sales up 6.5%.

Pepco forecasts underlying profit for the full year in a range of 640 to 655 million euros, which represents a growth of 45% at mid-term compared to the previous year, affected by the COVID.

($ 1 = 0.8630 euros)

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