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Pepco Group core earnings up 46% on new store openings -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO A sign can be seen at a Poundland shop in London on November 10, 2015. REUTERS/Stefan Wermuth/File photo

LONDON, (Reuters) – Tuesday saw a 46% increase in core profits for the full year at Pepco Group. This is due to new store openings.

According to the group, it reported underlying earnings before interest tax, depreciation, and amortization (EBITDA), of 647 millions euros (730 million USD) for the period ended Sept. 30, in line with its guidance of 640-655 billion euros.

Pepco increased its revenue by 19.4% to 4.12 Billion euros after being listed on Warsaw Stock Exchange in May.

There were 483 new store openings, bringing the total number to 3,504. Group said that it had a solid pipeline of new stores for 2021-22, and beyond.

($1 = 0.8868 euros)

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