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Profits hit €26m at Dealz owner Poundland

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Poundland trades in Ireland as Dealz

Poundland trades in Ireland as Dealz

Bloomberg

Poundland trades in Ireland as Dealz

Discount UK retailer Poundland, which operates 34 stores in Ireland under the Dealz brand, said like-for-like sales rose 4.7pc to £528.2m (€666m) in the first half of its financial year across its network.

Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) were 17.5pc higher at £20.7m (€26m).

Chief executive Jim McCarthy said that the group's performance for the full-year will be dependent on Christmas trading, but that he remains confident of further growth during the year.

Poundland entered the Irish market three years ago with its Dealz stores and has plans to open another 10 over the next year to bring its total investment here to date to €60m.

It serves almost 250,000 people a week in Ireland. It has also expanded the Dealz brand to Spain and plans further expansion there.

Mr McCarthy said Poundland's value proposition and prime-location stores will help deliver "many years of future growth".

Irish Independent