Poundland on course for £18m profit despite owner pushing for collapse

Poundland is on course for an £18m profit despite its owner pushing for a sale and claiming that the retailer remains “challenged and vulnerable , City AM can reveal. The retailer’s unaudited profit for the year to September stands at £18m, sources close to the company said. Following the audit, this figure is projected to rise above £20m, they said. This would mark a significant turnaround for Poundland and undermine claims made by its owner, US investment firm Gordon Brothers, that it is still in an uncertain financial position. Poundland slumped to an £85.2m pre-tax loss in the year to September last year, meaning that the retailer is set to achieve a more-than £100m swing back into profitability. Gordon Brothers, which is nearing a break-up of the retailer despite receiving a number of solvent offers for the firm, said earlier this week that it remains in a difficult position. The investment firm said on Thursday: “When Gordon Brothers acquired the business, it was