Aldi sees pre-tax profits of €88m

Discount supermarket giant, Aldi recorded pre-tax profits of £70.5m (€88.4m) in its Irish and UK stores last year.

Accounts for the German- owned Aldi Stores Ltd just posted to the Companies Registration Office show the retailer recorded a 29% increase in revenues from £2.14bn to £2.76bn in the 12 months to the end of December last.

The £70.5m in pre-tax profits followed Aldi recording pre-tax losses of £56.8m in 2010 that arose mainly from £58.5m losses on the disposal of fixed assets.