NEWS

Poundland plans March stock market float

Published on: 19th February 2014

Poundland has announced plans for a stock market flotation next month which is expected to value the company at up to £750m.Poundland300

The chain has seen sales rise as consumers hunt for a bargain. Since opening its first store in Burton-on-Trent in 1990, Poundland has grown to nearly 500 outlets in the UK and plans to double that number. It also operates more than 30 stores under the Dealz brand in Ireland.

Poundland describes itself as the largest single-price value general merchandise retailer in Europe with revenues of £880.5m in the last financial year to the end of March, and underlying earnings of £45.5m. Revenues for the nine months to the end of December were £758.3m, and underlying earnings of £45.2m.

Poundland plans to open a new 350,000 sq ft distribution centre in Harlow, Essex, later this year as it continues its growth.

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