Fall in half-year profits of 26%, falling like-for-like and effects of 99p Stores takeover drag down share price by one-fifth
Shares in discount retailer Poundland have crashed after it reported falling first-half profits and sales and warned of “highly volatile” trading conditions in recent weeks.
Poundland made a profit before tax and one-off items of £9.3m in the six months to 27 September, down 26% from £12.6m a year earlier. Total sales advanced 6.2% to £561.1m, while like-for-like sales – at stores open for at least a year – fell 2.8%.
Related: Poundland puzzles over how to keep it cheap and in reach
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