Poundland, Europe’s biggest single price discount retailer, has announced results for the financial year ending 28 March 2010, with profits of £21.5m, up 81.5%.
Poundland, which was recently acquired by Warburg Pincus, a leading global private equity firm, aims to continue its impressive growth with plans to open a further 50 new stores in 2010/11, creating an additional 2,000 jobs.
Poundland chief executive Jim McCarthy said: “Poundland offers customers a wide range of products at the amazing fixed price of just £1. Our latest results show that consumers from all income brackets are savvy enough to shop with us to save money from their shopping budget.
“We have added more branded products to our ranges and with these Poundland now offers over 1,000 top brands to compliment the overall range of 3,000 products, to give consumers an even greater incentive to shop with us.
“With the economic uncertainty continuing, we are seeing many more first time shoppers joining our existing loyal customer base and with this trend set to continue, I remain confident of our prospects for the current financial year.”
Poundland currently operates from stores across the UK, including Northern Ireland and welcomes over 3m customers every week.
Source: Poundland
