Poundland’s owner has slumped to an annual loss after taking a 775 million euro (£640 million) hit on the discount chain, blaming soaring costs from recent Budget moves and falling sales.
Pepco swung to a pre-tax loss of 554 million euros (£457 million) for the year to September 30, against profits of 159 million euros (£131 million) a year ago after booking the write-down on Poundland, citing a “significant decline in performance in 2023-24 and weaker outlook for profitability amid increasing competitive and cost challenges”.
