Chief executive of Poundland, Jim McCarthy
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Poundland benefits as shoppers squeezed

Budget retailer Poundland has said it is opening at least 50 new branches and creating another 2,000 jobs.

Pre-tax profits more than doubled to nearly £20m in the last financial year.

The company took over many of the sites previously occupied by Woolworths.

Chief executive Jim McCarthy said the recession had benefited Poundland's business.