While some other retailers were suffering the effects of the recession, business at Poundland was booming. Its 250 stores sell more than 3,000 products, including food, household goods and DIY products, all priced at £1. The discount chain already claims to be Europe’s number one single-price discount retailer with sales of £396m, and further expansion is planned. In 2002 Advent International took a majority stake for £49m. Under Jim McCarthy, chief executive, profits grew 46% a year from £4.1m in 2006 to £12.7m in the year ending March 2009.
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