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Dealz plans expansion in Ireland

Discount retailer Poundland expects to open at least 60 new stores across Ireland and the UK during 2015-2016 as it looks to capitalise on its Dealz brand here.

The firm currently has 41 stores across Ireland and opened 10 outlets in the past 15 months.

The firm, which sells almost all its products at the single price point of €1.49 here, met forecasts with a 19pc rise in annual profit in its latest set of financial results.

It said it made an underlying pre-tax profit of £43.7m (€69.1m) in the 12 months to March 29.

That was in line with analysts' average forecast of £43.6m and up from £36.8m made in the 2013-2014 year.

Although it did not give individual results for its Irish operation, the company said it serves about 300,000 customers a week here.

Poundland added that sales for the 11 weeks ended June 14 grew 4.1pc