It has been announced today (15 September) that Poundworld’s full year operating profit increased 130% to £14.6 million after an amazing year of trading.
Figures show that up to March 31 2015, like-for-like sales rose 5.6%, while turnover increased 22% to £422.3 million, as well as opening 38 new stores which now brings its total to 280 at the end of the financial year.
Chief executive at Poundworld Retail, Chris Edwards, said: “We have seen a record financial year and one of landmark progress for the company. We expect the year ahead to be one of development and consolidation that includes investment into a new 500,000 square foot warehousing facility adjacent to our current head office and the replacement of our existing ERP system. We’re confident that these changes will provide a strong platform for rapid growth over the next three years bringing our proposition of convenience and value to even more customers across the UK”.
The popular discount chain was established on a market stall in Wakefield in 1974 and are situated in 50 locations across the UK and now total 295 stores.
