Discounter Pepco books 775 million euros impairment charge on Poundland business

LONDON (Reuters) - European discount retailer Pepco Group on Tuesday reported an annual net loss of 662 million euros ($699 million), citing an impairment charge of 775 million euros for its Poundland business to reflect its weak performance and outlook.

The group reported underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of 944 million euros in the year to Sept. 30, in line with guidance of at least 900 million euros and up from 754 million euros made in 2022/23.

($1 = 0.9469 euros)

(Reporting by James Davey; Editing by Varun H K)