Pepco Group To Move Away From FMCG, Considers Potential Poundland Sale
Reuters
Yesterday
March 6 (Reuters) - Pepco Group NV :: *TO FOCUS ON THE PEPCO BRAND *BOARD IS ACTIVELY EVALUATING ALL STRATEGIC OPTIONS TO SEPARATE POUNDLAND FROM GROUP DURING FY25, INCLUDING POTENTIAL SALE *SAYS BOARD HAS AUTHORISED SHARE BUYBACK CAPABILITY OF UP TO €200M FO USE DURING FY25-FY27 *SAYS GROUP CEO STEPHAN BORCHERT WILL ASSUME RESPONSIBILITY FOR RUNNING PEPCO *ANNOUNCES STRATEGIC MOVE AWAY FROM FMCG, WITH CONSIDERATION ALSO GIVEN TO SEPARATION OF DEALZ POLAND OVER MEDIUM TERM *SAYS IT WILL CEASE THE PEPCO 'PLUS' FORMAT IN IBERIA *SAYS IT IS ALSO ANNOUNCING STRATEGIC REVIEW OF THE PEPCO GERMANY BUSINESS *SAYS GROUP LIKE-FOR-LIKE SALES ARE UP BY 1.5% IN 8 WEEKS TO 2 MARCH 2025 *EXPECTS PEPCO BUSINESS TO SEE FY25 UNDERLYING EBITDA (IFRS 16) YEAR-ON-YEAR GROWTH IN HIGH SINGLE DIGITS *SAYS IT NOW EXPECTS POUNDLAND TO DELIVER FY25 UNDERLYING EBITDA (IFRS 16) OF BETWEEN €50M TO €70M DURING CURRENT FY *Further company coverage: PCOP.WA * (Gdansk Newsroom) * ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))
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