Poundland insists it is profitable and stable

Poundland has posted a mixed set of results for the first nine months of the year, insisting it was “profitable and stable” despite an ongoing crisis at its owner Steinhoff. The retailer reported a 5pc decline in sales to €1.32bn (£1.1bn) in the period to June 30, dragged down by the closure of 60 stores in the comparable period last year. However like-for-like sales, based on stores open for more than a year, were up 1.7pc, which Poundland said outperformed the wider British high street.