Above expectation sales see Poundland boost new parent
Strong sales at the Black Country-based single price retailer Poundland have helped to boost the profits of its new South African owner.
The retailer, acquired by Steinhoff in a £610m deal last September, contributed an above-expectation £798m (€910m) of revenue to the group.
First quarter gains were sustained into the second quarter to give the Willenhall-based business its first positive like-for-like sales growth since December 2014.
The performance also goes some way towards justifying Steinhoff’s decision to invest... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
