The discount retailer, which opened 41 new stores during the past year (bringing the total to 212 stores), has seen operating profit increase from £8m to £11.8m. Like-for-like sales also increased by 2.1% and according to chief executive Jim McCartney the chain is looking to bring the total number of stores to 250 by the end of next year.
Since the closure of Woolworths, Poundland has taken on a number of stores and also hired 150 ex-Woolworth staff.
McCartney added that Poundland would continue to add branded products such as Heinz, Kellogg's and Pampers.
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