Pepco Group core earnings up 46% on new store openings

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The group said it made underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of 647 million euros ($730 million) in the year to Sept. 30 – in line with guidance of 640-655 million euros.

Pepco, which listed on the Warsaw stock market in May with a valuation of 5 billion euros, increased revenue 19.4% to 4.12 billion euros.

New store openings were 483, taking the total to 3,504. The group said it has a strong new store pipeline for 2021-22 and beyond.

($1 = 0.8868 euros)