Pepco takes £675m hit on Poundland in ‘challenging’ year

Pepco Group has booked a £675m impairment charge on its UK subsidiary Poundland, driven by “a significant decline in performance in FY24 and weaker outlook for profitability amid increasing competition and cost challenges.”
The charge, which primarily reflects the goodwill from the Poundland acquisition, follows 3.6% in like-for-like sales at the value retailer for the year ending 30 September 2024.
Overall revenue at Poundland edged up 0.2% year-on-year while EBITDA declined 2