Published on 2 - July - 2012
Annual sales up 21.6% at fast-growing PoundlandPoundland's full-year sales have increased by 21.6%, as the one-price retailer continues to open new outlets.
Poundland expects to open another 60 stores next year
In the 53 weeks to April 1 2012, the company turned over £780m, with like-for like sales growing 2.3%. Underlying EBITDA jumped 26.5% to £40.1m, while gross margin was £27.7m, up 22.2%.
Poundland opened 62 new stores during the year and now has around 400 in the UK. It also launched nine new outlets in the Republic of Ireland, which it entered last year under the Dealz name. The company grew customer numbers to over 4m, from 3.5m in the previous year.
This year will see a similar number of new store openings, including more in Ireland. Along with the launch of a new 200,000 sq ft distribution centre in Hoddesdon next month some 2,000 jobs will be created.
The company is also looking to expand into Europe.
Chief executive Jim McCarthy said: "Our strong sales and volume increases demonstrate that customers recognise the exceptional value for money that Poundland offers.
"Our fixed price makes it easy for families to budget, as they can see how much they've spent before they get to the checkout."
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