Steinhoff’s European discount retailer Pepco says it is on track to meet its full-year core profit target in spite of the war in Ukraine, which borders three of its largest operating territories.

Pepco, the owner of the discount Pepco and Dealz brands in mainland Europe and Poundland in the UK, said in an update on Thursday that revenue rose 17.5% to €2.37bn (R38.7bn) in its half-year to end-March, while core profit is expected to rise by as much as 8%...