Poundland aims to open 1,000 stores

<p>Poundland’s chief executive has revealed the firm’s aims.</p>

Budget shop chain Poundland aims to have 1,000 stores open in the UK.

Chief executive Jim McCarthy stated that the goal is to continue expanding the company across the country's high streets.

Speaking after the firm announced a 15 per cent rise in total sales to £880 million for the 12 months to the end of March, he said discount chains have now crossed over to the mainstream.

"Over time I'm confident that we will have over 1,000 Poundland stores in the UK," he added.

Poundland's latest financial results indicate that its pre-tax profit before exceptional items was up 29 per cent to £23.1 million, while its stores served 4.5m customers each week in the 12 months to March.

The private equity owners of Poundland are currently mulling over a possible sale or float of the firm early next year, the Financial Times previously reported.

Poundland is already Europe's biggest single-price discount retailer by number of stores.

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