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Poundland H1 pre-tax profits fell 43.1%

Staff writer ▼ | November 20, 2015
Poundland reported a fall in sales and profits, and said recent trading had been highly volatile. Half-year pre-tax profits fell 43.1% to £5.3m, and like-for-like sales were down 2.8%, the budget retailer said.
Poundland   Like-for-like sales were down 2.8%
Poundland cited factors such as a drop off in the loom band craze and an early Easter last year for the decline. But its acquisition of 99p Stores had added "early sales uplifts", said chief executive Jim McCarthy.

However, he said the chain had seen "highly volatile trading conditions so far in the third quarter".

"The quarter's performance therefore depends more than ever upon the last six weeks' trading towards Christmas," he said.