Aldi UK profits soar – bakery sales up 40%02 October 2012
German budget supermarket Aldi has reported a 450% increase in UK operating profits from £18.7m to £102.9m in the year ending December 2011.
Aldi’s bakery sales were up 40% as the firm reported a 30% increase in turnover to £2.8 billion.
The supermarket benefited from cost-conscious shoppers looking to reduce their grocery bill and the company increased its market share in the UK by 54.4% to 4.1%.
Aldi, which currently has around 500 UK stores, opened 29 outlets last year and said that it will open 40 more by the end of next year. The company has also vowed to create 4,500 jobs in 2012.
“We’re constantly looking at what we do and innovating in line with consumer demand. This has seen us expand our product range by 30%, source the vast majority of produce from UK-based companies and make changes such as introducing trolleys with baby seats, baskets and more premium products, like fillet steak,” said Matthew Barnes, Aldi UK’s co-managing director.
“This approach is helping us win awards and creating strong levels of brand loyalty among consumers,” he added.
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