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Leaner Aldi is ‘stronger than ever’ despite drop in profits

The German discount grocer said annual sales in the UK and Ireland rose 13.5 per cent to a record £8.7billion last year, with growth accelerating into 2017.

It added that last year’s like-for-like sales growth remained “strong”, but declined to give a figure.

Operating profit was down 17 per cent to £211.3million due to an ongoing investment drive, which saw it commit £450million to opening new stores and improving its UK and Ireland distribution centres.

Aldi’s UK and Ireland chief executive Matthew Barnes said: “We are very happy with our performance this year.

“We have a scenario where our business is leaner than ever. We feel stronger than we have ever felt.”

Aldi has 10,000 shops in 18 countries, and an estimated combined turnover of more than €50 billion. Aldi was founded by brothers Karl and Theo Albrecht on June 10, 1946.

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Daily Express :: Finance Feed

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