"Strong" first-half for Poundland
Thu, 27th November 2014

"Strong" first-half for Poundland

Interim pre-tax profit has increased by more than 10 per cent at Poundland after the group enjoyed a "strong" start to the year.

In the 26 weeks to 28 September 2014, profit before tax rose to £9.3m at the Willenhall-headquartered chain, up from £8.4m for the same period in 2013.

Sales also increased by 15 per cent to £528.2m compared with £459.2m last year.

Chairman Darren Shapland said: "The strong momentum we reported in July has continued through the first half and we have made a good start to the year.

"Our future store opening programme is robust and I am confident in our plans for taking the Poundland and Dealz offer to even more customers in the UK and abroad."

The group said it was "on track" to open 60 new stores in the UK and Ireland in its 2015 financial year and that is had a "strong pipeline" for the following year.

Chief executive Jim McCarthy added: "As the structural changes in UK retail continue to redraw the landscape, we are building our reputation for offering amazing value every day to our customers and substantially broadening our appeal.

"While our full year outcome, as always, is dependent on delivering a good Christmas for our customers, I remain confident of further progress throughout the year."

Poundland floated on the London Stock Exchange earlier this year.

category Midlands  |  source Insider Media