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£6.2m profits for Poundworld

POUNDWORLD, which was founded on a Wakefield market stall in 1974 by owner Chris Edwards, has announced underlying profits of £6.2 million for the year to March 31, representing an increase of 31 per cent.

Turnover from the 242-store chain was £345.3m, a rise of 18 per cent as like-for-like sales improved 2.6 per cent.

Since the year end the performance has accelerated with underlying sales up more than 10 per cent in recent months.

The business has plans to open a further 150 stores in the next three years.

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