Fall in half-year profits of 26%,falling like-for-like and effects of 99p Stores takeover drag down share price by one-fifth Shares in reduction retailer Poundland enjoy crashed after it reported falling first-half profits and sales and warned of “highly volatile” trading conditions in recent weeks.
Poundland made a profit before tax and one-off items of £9.3m in the six months to 27 September, down 26% from £12.6m a year earlier. Total sales advanced 6.2% to £561.1m, or while like-for-like sales – at stores open for at least a year fell 2.8%.
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Source: theguardian.com