Pepco Group shares rise after outlook upgrade, sales beat
BUZZ-Pepco Group shares rise after outlook upgrade, sales beat ** Shares in Pepco Group PCOP.WA rise around 3% after the retailer upgraded its full-year earnings guidance and reported third-quarter sales and revenue that beat market expectations
** The company posted an 8.5% rise in third-quarter revenue and 5.4% like-for-like sales growth excluding FMCG
** It also raised its full-year core profit growth target to mid-teens and its expected gross margin to around 51%
** Erste Group analyst Piotr Bogusz noted reported revenue "came slightly above market expectations," with the core profit target exceeding forecasts
** Trigon analyst Grzegorz Kujawski views the update as "slightly positive," driven by higher-than-expected LFL sales and gross margin improvements
** As of 07:25 GMT, shares of the company topped Poland's blue-chip index WIG20 .WIG20 which rose 0.8%.
(Reporting by Rafal Nowak in Gdansk)
((RafalWojciech.Nowak@thomsonreuters.com; +48 58 769 66 63;))
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