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Aldi revenues up as shoppers eye deals
PROFITS at Aldi have jumped as British shoppers increasingly hunting for ways to cut their shopping bills.
Discount supermarkets Aldi and Lidl have stolen market share from the likes of Tesco, as “the squeezed middle” – which Tesco believes constitutes 80 per cent of its customer base – look to cut down on household expenditures.
Accounts filed at Companies House suggest that Aldi Stores, the British arm of the retailer, reported an operating profit of £18.7m in the year, compared with an operating loss of £21.2m the previous year, on sales increasing 4.6 per cent to £2.14bn. However, the group’s pre-tax losses widened after a string of impairments.