Poundland’s EBITDA has rocketed 27 per cent to £20m in the year to March 29.

Operating profits soared 47 per cent to £11.8m in the period, while like-for-likes increased 2.1 per cent.

The 212-store retailer opened 41 shops in the period.

Chief executive Jim McCarthy said: “Consumers are having a tough time at the moment. Having a single price strategy is a big benefit, as it means they can budget easily as they shop.”

He said Poundland will continue to grow its store estate “significantly” during 2009/10, estimating it will operate 250 by the end of the financial year.

He added that Poundland had “helped to mitigate some of the Woolworths closures this year” by taking on 150 ex-Woolworth’s staff in new stores. McCarthy said Poundland plans to open a “significant number of ex-Woolworths retail units during the coming year”.

The retailer has also added more brands to its offering, including Maxwell House, Kelloggs, Heinz, Pampers and Mr Muscle.