Pepco Group, the owner of Dealz, PEPCO and Poundland discount retailer brands in Europe, posted a 12% rise in its quarterly total revenue on a constant currency basis.

The increase was driven by the performance at its PEPCO banner that saw a 20% revenue jump.

The group, which listed on the Warsaw stock exchange last May, said its first-quarter revenue for the period of October-December came in at €1.35 billion, with like-for-like sales up 0.7%.

Pepco Group said it delivered its strongest quarter in terms of store openings with 161 new branches, 146 of which were PEPCO.

These included 55 in the strategically important Western European markets of Italy, Austria and Spain, which continue to trade ahead of expectations.

"It is particularly pleasing that despite the supply chain and demand challenges presented by Covid-19, the strength of the consumer proposition of all three of our brands ensured that we delivered a resilient trading performance," chief executive Andy Bond said in a statement.

The group had previously said that it sees Europe as its addressable market, following encouraging initial performance of PEPCO stores in Western Europe.

PEPCO, predominantly present in eastern Europe, plans to open in Germany in the first half of 2022 and has a strong pipeline of store launches for 2021-22 and beyond, Bond had said last month.