Poundland joins the Main Market
Monday 17th March 2014
London Stock Exchange today welcomes Poundland Group plc ("Poundland"), the largest single price value general merchandise retailer in Europe, to the premium listing segment of the Official List on the Main Market.
Poundland started trading from just one store in 1990. Since then, the business has expanded rapidly and now serves approximately 5 million customers every week from over 500 stores across the UK and Ireland. Poundland has a clear strategy for future growth with a long-term roll-out target of over 1,000 stores in the UK.
Poundland has played an instrumental role in the growth of the value sector in the UK retail market. Its single price point increasingly appeals to a broad section of shoppers, with nearly a quarter of UK customers coming from the AB demographic.
The Company’s success in Ireland - under the Dealz fascia - demonstrates a capability to generate positive financial returns in new geographies and underlines the potential for further international growth. The Company is currently preparing for a pilot launch in Spain under the Dealz brand.
Jim McCarthy, Chief Executive Officer of Poundland, said:
"I’m very pleased to welcome our new Shareholders to Poundland. The combination of a track record of delivering strong, profitable growth underpinned by a well-invested infrastructure and a compelling growth story has attracted overwhelming support for Poundland’s IPO. We look forward to continuing to deliver, as a listed company, Poundland’s mission to provide our customers with amazing value every day."