The European group revealed a pre-tax loss of €554m (£458.7m) for the year ending September 30, 2024, a stark contrast to the profit of €159m (£131.6m) it made in the previous year.
This loss was largely due to a non-cash impairment charge of €775m (£641.8m) booked for Poundland after a significant drop in performance. The UK brand's like-for-like sales fell by 3.6% over the year, and its profit outlook weakened amid rising competition and costs. Despite this setback, Pepco posted an annual revenue of €6.16bn, up from €5.59bn, and ended the period with 4,948 stores, including 836 Poundland outlets.
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EARLEY RETURN
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Care group changes hands in takeover deal
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William reveals Christmas plans
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Storm aid is criticised in Commons
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