article_snippet.sent: Poundland has posted annual sales exceeding the £1billion mark for the first time in yet another sign of the discount stores' sustained challenge to established supermarket retailers.
article_snippet.sent: Poundland revealed yesterday total revenue over the 12-month period - excluding Poundland Spain interests - grew 11.8 per cent to just over £1.1 billion, breaking through the £1bn barrier for the first time and matching more established retailers such as WH Smith.
article_snippet.sent: Poundland has become Europe's largest single-price discount retailer, with a trial expansion into Spain currently underway .
article_snippet.sent: Profits are expected to be around £44million as Poundland reaps the rewards from Poundland 547 UK stores and 41 shops in Ireland.
article_snippet.sent: Poundland said Poundland had opened 60 net new stores in the UK and Ireland and had a strong pipeline of openings for the new year.
article_snippet.sent: On the back of yesterday's figures, Poundland's chief executive Jim McCarthy said: 'After a solid quarter of sales growth, Poundland's revenue for the new year was over £1billion for the first time. '
article_snippet.sent: Despite tough trading conditions, Poundland continues to perform well and we served an average of 5.3 million shoppers a week during a solid quarter of sales growth. '
article_snippet.sent: we managed we costs and cash well, and we expect underlying pre-tax profits to be in line with market expectations for the year as a whole.'
highlights_snippet.sent: The discount chain yesterday posted annual sales exceeding £1 billion .
  
highlights_snippet.sent: Poundland benefited from austerity seen in the wake of the financial crisis .
  
highlights_snippet.sent: Poundland also transformed High Streets, luring customers away from superstores .