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Poundland considers IPO next year- sources

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October 1
9:17 AM 2013

Sources told Reuters that Poundlad was mulling an initial public offering (IPO) in the first half of 2014. The largest single-price discount retailer in Britain, Poundland, was also planning to double the number of its stores in Britain to over 1,000.

According to a Reuters report, discount retailers like Poundland and Aldi posted profits as consumers turn to them to make savings. In the year ending March 31, Poundland posted underlying earnings before interest, tax, depreciation and amortization (EBITDA) of GBP 45.4 million. This was an increase from its EBITDA of GBP 39.3 million in the same period last year.

Nick Bubb, an independent analyst for the retail sector, said a Poundland IPO should be welcomed by investors. He said this was because the London bourse lacked players from the discount and online retail sectors.

Private equity firm Warburg Pincus holds a 76% stake in Poundland. Poundland's management team led by Chief Executive Officer Jim McCarthy owns the remaining stake.

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