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Sunday 11 December 2016

Dealz owner Poundland hits £1bn in sales

Published 15/04/2015 | 02:30

A Poundland shop in Glasgow, as the discount retailer, which faces a probe into its takeover of rival 99p Stores, said its annual sales topped £1 billion for the first time. Photo: PA
A Poundland shop in Glasgow, as the discount retailer, which faces a probe into its takeover of rival 99p Stores, said its annual sales topped £1 billion for the first time. Photo: PA

Poundland, owner of the Dealz retail chain, expects to meet full-year profit forecasts as a rise in fourth quarter sales took annual revenue over the £1bn (€1.38bn) mark for the first time.

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Poundland, which trades from 547 UK stores and 41 in Ireland under the name of Dealz, is in the process of expanding into Spain. Sales in the 13 weeks to March 29 grew 7.1pc at constant currency, versus growth of 10.2pc in its third quarter, the company said yesterday.

For the 12 months, total revenue, excluding Spain, grew 11.8pc at constant currency to just over £1.1bn, the firm said, and rose 2.4pc on a same store comparison.

The business expanded dramatically after the recession.

Irish Independent

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