Poundland posts record high yearly revenue of over £1 billion

Poundland posted record high yearly revenue of over £1 billion for the 12 months to 29 March – the first fiscal year in which the discount retailer has generated sales of over a billion pounds.

Poundland operates 547 UK stores, 41 in Ireland under the Dealz brand, and is currently running a trial in Spain.

In fourth quarter trading statement the company said that total revenue, excluding Spain, rose by 11.8% in Q4 on a constant currency basis and increased by 2.4% on a like-for-like basis.

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Total revenue in the fourth quarter rose by 6.5% to £255.0 million.

The retailer said that it opened a net 60 stores during the 2015 financial year, in line with its target. The company says that it has a strong pipeline of stores for the current financial year.

Poundland also stated that underlying pretax profits are expected to be in line with market expectations – ranging between £42.0m and £44.6m.



Commenting on Poundland’s performance, Chief Executive Jim McCarthy, said:

“After a solid quarter of sales growth, Poundland’s revenue for the 2015 financial year was over £1 billion for the first time. Despite tough trading conditions, Poundland continues to perform well and we served an average of 5.3 million shoppers a week during the quarter.

“We have managed our costs and cash well, and we expect underlying pretax profits to be in line with market expectations* for the year as a whole. We achieved our target of 60 net new stores in the UK and Ireland and have a very strong pipeline of store openings for the current financial year.

“We expect to continue to deliver our growth strategy in the new financial year, notwithstanding some headwinds from a weaker Euro and a tough comparable in the first half.”