Poundland owner Pepco sees annual profit at upper end of expectations


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LONDON - Pepco Group, the owner of British discount retailer Poundland, on Thursday forecast full-year core profit at the upper end of market expectations after revenue rose 19.4%.

The group, which listed on the Warsaw stock market in May with a 5 billion euros ($5.8 billion) valuation, also owns the PEPCO and Dealz brands in Europe.

It said year-to-September revenue was 4.1 billion euros, with like-for-like sales up 6.5%.

Pepco forecast full-year underlying earnings in a range of 640 million to 655 million euros, representing a 45% growth at the mid-point on the COVID-hit prior year.

($1 = 0.8630 euros)

(Reporting by James Davey; Editing by Subhranshu Sahu)

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