Warburg-backed Poundland considers IPO

For the financial year ending 31 March 2013, Poundland posted a total sales increase of 15% to £880m, compared with £765m for the same period last year. The discount retailer saw gross profit rise by 14.6% to £323.4m, compared with £282.3m last year. Underlying EBITDA lifted by 15.6% to £45.4m, compared with £39.3m the previous year. The company has also halved its net borrowings from £26.1m in 2012 to £12.1m this year.

Speaking to The Grocer, Poundland CEO Jim McCarthy said a possible listing is simply a reaction to the company's success. According to reports, the IPO, which could take place in the first half of next year, could value Poundland at up to £600m.

Warburg Pincus acquired a majority stake in the discount retailer in April 2010 from Advent International, in a deal thought to be worth £200m.

Poundland was created in 1990 and sells a variety of products such as gardening tools, confectionary and home cleaning products, all for a nominal value of £1m. The company now operates through 458 stores across the UK, and in the Republic of Ireland under the name Dealz.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Consumer
• UK / Ireland
• Warburg Pincus
• Advent International