Aldi in return to operating profit

DISCOUNT supermarket giant, Aldi has reported a return to operating profit of £27.6 million (€31.5 m) after revenues increased to £2.1bn in its Irish and British stores last year.

Accounts for the German-owned Aldi Stores Ltd just posted to the Companies’ Office show that operating profit was £27m after the company recorded an operating loss of £5.9m in 2009.

However, a £58.5m loss on the disposal of assets and interest payments totalling £26m, resulted in the company recording a pre-tax loss of £56.8m in the 12 months to the end of December 2010. This follows the company recording a pre-tax loss of £54.2m in 2009.

Aldi, which does not disclose its sales or profits in Ireland, increased its revenues by £95m or 4.6% from £2bn to £2.13bn.

The filings show that operating profit takes account of a non-cash depreciation cost of £69m.

Aldi, which opened its first supermarket in Ireland in 1999, has more than 60 stores in Ireland and employs more than 1,200 people here.

According to the directors’ report, “during the year, the group has continued to make significant investment in expanding its business, opening 24 new stores, extending and refurbishing a number of existing stores and preparing for further growth in the future”.

The filings show that the company had accumulated profits of £256.4m at the end of the year contributing to shareholder funds totalling £1.33bn.