Aldi report doubling of profits in UK, Ireland

Discount supermarket giant Aldi last year had exponential growth inIreland and the UK as its pre-tax profits more than doubled to £157.9 million (€185m).

Accounts for the German-owned Aldi Stores Ltd just posted to the Companies’ Office show that the retailer enjoyed the massive jump in profits after revenues soared by more than £1bn or 40% from £2.76bn to £3.89bn in the 12 months to the end of December last.

The firm’s pre-tax profits increased by 124% from £70.5m to £157.9m during the year.