Aldi supermarket chain posts big rise in pre-tax profit

Aldi, the discount supermarket chain, has posted a big rise in full-year profits as its share of the British grocery market continues to grow.

The company said pre-tax profits rose 65.2% to £260.9m for the year to 31 December 2013.
Group turnover rose 35.7% to £5.27bn over the period.
Its market share grew from 3.1% to 4% in 2013, according to Kantar Worldpanel, and is now 4.8% after a continued strong performance in 2014.
"We keep prices constantly low while keeping product quality consistently high, which is exactly what shoppers want," said Roman Heini, Aldi's UK group managing director.
"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."
Aldi said operational cost savings were used to keep prices low rather than boost profit margins - a philosophy that is proving increasingly popular with customers and encouraging the firm to expand further.
It opened 42 new stores in 2013 and is due to open 54 this year, with another 60 to 65 planned for next year. This would take the total number of UK stores to more than 600, the company said.
Matthew Barnes, Aldi group managing director, said: "We're investing over £600m in our operations over the next two years to support this growth."
Mr Barnes also said that growth in the first half of 2014 had been stronger than in the same period last year.
Aldi's bullish results and comments come in stark contrast to the fortunes of rival Tesco, currently reeling from an accounting scandal and recent boardroom resignations

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