Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Poundland announces planned flotation

2 comments
Poundland announces planned flotation

Poundland, the UK’s largest pound store, has announced that it is to float at least 25% of its share capital.

The company, currently run by Private equity manager Warburg Pincus, opened its first store in 1990 and has grown to operate a network of over 500 stores across the UK and Ireland.  

Shares are expected to begin trading next month, although the company did not offer any indication of how it expects the offer to be priced.

Revenue within the group has grown from £641.5 million in 2011 to £880.5 million, or an annual growth rate of 17%.

‘We have built a track record of delivering strong, profitable growth,’ said chief executive Jim McCarthy.

‘I believe we have many more opportunities ahead, underpinned by our trusted brand, strong supplier relationships, differentiated value proposition and our well-invested and scalable infrastructure. 

‘Our success in Ireland - where we trade under the Dealz fascia - demonstrates that we have the capability to generate positive financial returns in new geographies quickly and underlines the potential in the business for further international growth in addition to our plans for continued rapid growth in the UK.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Volatility is back, Europe's future & Ethical's key moment

Volatility is back, Europe's future & Ethical's key moment

This week’s episode of Investment Pulse takes a look at European prospects, FTSE volatility and whether public pressure is about to provide a push for ethical investment

Play Volatility spike: How ETFs can soften the blow

Volatility spike: How ETFs can soften the blow

ETFGI’s Deborah Fuhr discusses the role of ETFs in client portfolios during volatile market conditions

Play Winter market warmers, the post QE world and timing the Fed

Winter market warmers, the post QE world and timing the Fed

This week’s episode of Investment Pulse looks at the winding down of quantitative easing, whether to try and time a US Federal Reserve rate rise and if strong seasonal performers can reverse recent market slumps

Wealth Manager on Twitter