Poundland 2014 Full Year Profit Increases To £27.3 Million And Opens First Spain Store

WILLENHALL, England – 4 July 2014 – Poundland Group plc has £27.3 million in underlying post-tax profits for the year ended 30 March 2014. This is higher than last year’s underlying post-tax profits of £21.8 million.

Poundland’s total sales for the year ended 30 March 2014 was £997.8 million. This was higher than £880.5 million of profits for 2013.

Chairman Andrew Higginson said that the company is continuing to build on Poundland’s growth record. “I expect that Poundland will continue to benefit from its strong trading platform, its universal appeal and the structural change in consumers’ shopping behaviour,” Higginson added.

“This was a transformational year for Poundland culminating in our successful IPO in March,” Chief Executive Jim McCarthy said.

“I am pleased to report that in our maiden set of results we have delivered excellent growth in sales, as well as in underlying EBITDA and EPS, whilst generating strong cash flow,” McCarthy said.

“In addition to strong trading in the UK, the next leg of our international expansion is now underway with the opening yesterday of our first Spanish store in Torremolinos,” McCarthy added.

Image from poundland.co.uk
Image from poundland.co.uk

Operational Highlights

Poundland has 70 net new stores, making the number of stores to 528 stores.

A Dealz store opened in Torremolinos, Spain, on 2 July 2014. The company wants to open 10 stores in Spain in two years. The company also plans to open 60 stores in UK and Ireland. The company estimates that about 1,000 jobs will be created by these store openings.

The company has been awarded Grocer Variety Discounter of the Year.

 

2015 First Quarter Results

The company’s sales for the first quarter ended 29 June 2014 was £262.6 million. That’s higher than £222.6 million in 2013.

The company said the strong sales was driven by many factors including “delivering amazing value every day” and continually improving the products they offer in their stores.

 

Chosen Charity

The employees of Poundland in the UK have chosen Macmillan Cancer Care as the charity of choice. Donations have reached more than £1 million. However, in the Republic of Ireland, the Make-A-Wish charity is the chosen entity for Dealz stores.

Any Reaction?

comments

Leave a Reply

Your email address will not be published. Required fields are marked *