Poundland boosted sales by 21% last year, according to results released today.
The discounter increased turnover from £642m to £780m for the 53 weeks ending 1 April 2012 – a slight slowdown on the growth seen in 2011, when turnover was up 25.8%. It said overall like-for-like growth was up 2.3%.
Poundland opened 62 new stores over the year, two fewer than in 2011. In April, it opened its 400th store, in Haringey, London. It also opened nine Dealz stores in the Republic of Ireland.
“Our strong sales and volume increases demonstrate that customers recognize the exceptional value for money that Poundland offers,” said chief executive Jim McCarthy.
“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. We are excited about the year ahead as we continue our rapid expansion.”