Pepco revenue rose by 17.7% in 2022/2023

The revenue of discount retailer Pepco Group increased by 17.7% in the financial year 2022/2023 (ended on September 30, 2023) and amounted to 5,649 million euros. The group opened a record 343 new stores in the fourth quarter ended on September 30th, with 668 openings in total during the full year.  

Pepco forecasts annual underlying earnings before interest tax, depreciation and amortization (EBITDA) to reach 750 million euros compared to 731 million euros in the 2022 financial year. The Group's executive chairman Andy Bond said Pepco’s key priorities include refocusing on customers in its core business in Central and Eastern Europe.

Pepco shares rose 4% after the results. Last month, Pepco shares posted a record drop after it downgraded its profit outlook twice in less than a month. However, the group is still set to report its highest-ever EBITDA.