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Poundland set to top £1 billion mark

By Burton Mail  |  Posted: July 03, 2014


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A ‘TRANSFORMATIONAL’ year for discount retailer Poundland saw sales nudged closer to the £1 billion mark following its flotation earlier this year .

Announcing its first full-year results since the listing, the company, which started out life in The Octagon shopping centre, said that turnover had risen to £997.8 million in the year to March 30.

Operating profit fell slightly to £27.7 million, while pre-tax levels also fell to £21.4 million.

Chairman Andrew Higginson said today: “These results show we are continuing to build on our strong growth record, as set out at the time of the IPO.

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“I expect that Poundland will continue to benefit from its strong trading platform, its universal appeal and the structural change in consumers’ shopping behaviour.”

Chief executive Jim McCarthy added: “This was a transformational year for Poundland culminating in our successful IPO in March.

“I am pleased to report that in our maiden set of results we have delivered excellent growth in sales.”

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