London Stock Exchange and Poundland

Nick Bubb: The fall came even though Poundland, which began life as a Lincolnshire market stall in the 1990s, had just confirmed annual sales had risen above £1bn for the first time, according to The Guardian. Underlying profits before tax climbed nearly 19% to £44m in the year to the end of March. Shares in the single-price chain slid nearly 4% to 299p, just below the 300p at which the retailer joined the the London Stock Exchange in March 2014. Sales rose nearly 12% to £1.1bn in the year or 2.4% on a like-for-like basis – which strips out gains from new store openings. Nick Bubb, an independent retail analyst, said the fall in underlying sales would unsettle investors. But the company said that total sales were up just 4% in the 11 weeks since March – indicating a 4-5% fall in recent like-for-like sales according to analysts. (news.financializer.com). As reported in the news.