Pepco Lifts Profit Forecast and Announces Buyback
Discount retailer Pepco raised its full-year profit forecast and announced a 400 million euro share buyback program. The upgrade follows a strong fourth quarter driven by solid demand across its European markets.
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PEPCO GROUP NV lifted its full-year net profit forecast and announced a €400 million share buyback on Tuesday after reporting a strong fourth quarter. The Warsaw-listed discount retailer expects underlying net profit growth to exceed 60% for the financial year. Full-year revenue is projected to exceed €4.5 billion, hitting the top of its growth forecast range.
