Poundworld secures £50m loan from Santander to fund its expansion November 10, 2015 Poundworld has secured a £50m loan from its banks to help fund its expansion, just months after private equity firm TPG snapped up a majority stake in the bargain chain. The value retailer said the five-year loan provided by Santander Corporate Bank will help the group meet its target of opening 60 new stores a year across the UK on top of [...]
US private equity firm Warburg halves stake in UK’s Poundland February 11, 2015 AMERICAN private equity firm Warburg Pincus has cut its stake in UK discount retailer Poundland from 30.4 per cent to 16.4 per cent, raising £142m via a share placing, the buyout firm said yesterday. The New York-based company had said on Tuesday that it intended to offload 25m Poundland shares, but subsequently increased that amount to [...]
Poundland agrees conditional deal to buy 99p Stores for £55m February 6, 2015 If you had £55m you could walk into Poundland and fill your boots. Or, you could do what Poundland is considering and buy the 99p Store. For that £55m, enough for 55,555,556 items from its rival, Poundland will get 99p Stores’ 251 branches, which together produce £370.4m in annual sales and serve around two million [...]
Poundland’s quids in with 11.7 per cent rise in profits November 27, 2014 Shares in discount retailer Poundland edged 3.7 per cent higher to just under 314p after it posted a 11.7 per cent rise in pre-tax profits, which hit £9.3m in the six months to the end of September. Sales rose 15 per cent to £528.2m, while net debt fell 83 per cent to £4.4m, as it [...]
Here’s why investors should’ve bet on stock market floats last year: IPOs beat the FTSE 100 in 2014 October 13, 2015 Plucky investors looking to make a quick buck should've stomached the risk and brought companies that floated last year, as their shares outperformed the FTSE 100. New research by accounting firm Deloitte shows that the 30 IPOs which completed in 2014 generated an average return of 12.4 per cent, outperforming the FTSE 100 by 14.4 [...]
Poundland wishes you a Merryy Cristmas and a Merry Christmay December 16, 2014 Discount superstar Poundland was snowed under with complaints about its festive products on Twitter yesterday. One unhappy shopper tweeted about a set of Christmas lights which spelt its message wrongly – “‘MerryyCristmas’ it might be a only quid but you could at least spell it right!” Naturally, the hashtag #MerryyCristmas started doing the rounds. [...]
Poundland share price falls as its biggest shareholder sells larger-than-expected stake after 99p Stores acquisition February 11, 2015 Shares in Poundland slid 5.5 per cent to 393.9p this morning after Warburg Pincus, the discount retailer's largest shareholder, sold off 10m more shares than originally planned, after its acquisition of 99p Stores last week. The investor said yesterday it was planning to sell of 25m shares (about £101m worth) – but this morning, it [...]
Mapped: These are London’s “filthiest” supermarkets August 12, 2015 Hygiene inspectors have found around a third of Britain's "filthiest supermarkets" are located in London, according to data from the Food Standards Agency (FSA) crunched by the Mirror. The FSA ranking stretches from zero which means urgent improvement is required, to "5" which means the hygiene standards are very good. Those listed were among a handful of [...]
Poundland sits pretty after new make-up launch November 27, 2014 THE ECONOMY may be improving, but Poundland’s booming popularity is proof shoppers are sticking to recession-born habits of seeking out a bargain, the company said as it posted a jump in first-half profits. The value retailer enjoyed a 34.2 per cent rise in pre-tax profits to £12.6m in the six months to 28 September, beating [...]
Poundland boosts board with new execs October 15, 2014 POUNDLAND has bolstered its board after hiring the chief executive of packaging group DS Smith and the finance director of pub group Mitchells & Butlers as non-executive directors. The bargain retailer, which made its market debut in March, said Miles Roberts and Tim Jones would join the company on 30 October. “Both Miles and Tim [...]