Aldi profits leap by 65%
Discount supermarket Aldi has announced a 65% increase in full year pre-tax profits in the UK as it continues to grow its market share by attracting more middle class shoppers.
In the year ending 31 December 2013, UK sales grew by 36% to £5.3 billion while pre-tax profit surged to £260.9 million. Sales from UK stores open at least a year rose by 30%.
Roman Heidi, group managing director of Aldi UK, said: “We keep prices constantly low while keeping product quality consistently high, which is exactly what shoppers want.
“They had become used to thinking you have to pay more for better products. We’ve shown them this doesn’t have to be the case.”
Never Miss a Retail Update!Aldi is planning to open 65 new stores in the UK in 2015 to take the total number of stores to 600.
Earlier this month Kantar Worldpanel found that Aldi maintained its record market share of 4.8% in the 12 weeks to 14 September and in August reported that 53% of UK consumers shopped at an Aldi or Lidl store
