Poundland updates the market ahead of interims

DISCOUNT retailer Poundland has updated the market on its financial performance ahead of its interim results.

The Black Country company said the prospectus published at the time of its IPO earlier this year contained financial results for the first nine months of FY2014 and, therefore, in advance of its interims it was updating the market with its unaudited underlying profit and loss account for the 26 weeks ended September 29, 2013.

The figures show the company had underlying revenues of almost £460m for the six months to the end of September last year, with gross profit for the period of more than £167m. Pre-tax profit was £9.36m, with EBITDA of £17.6m.

The retailer said it would announce its interim results on Thursday November 27, 2014.

It will be accompanied by an analyst presentation, hosted by CEO Jim McCarthy, CFO Nick Hateley and Trading Director Richard Lancaster. The meeting will take place at the London offices of JP Morgan.

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