UK: Aldi profits drop for 3rd consecutive year despite sales increase | Progresiv
A rapid expansion programme has led to an adverse impact on profits at Aldi for the third consecutive year, despite another rise in sales and market share. 
In its full year to December 31, 2016, the German retailer’s operating profit dropped 17 per cent to 211.3 million pounds, while gross profit slipped seven per sent to 324.5 million pounds.
However, in the same period sales rose 13.5 per cent to 8.744 billion pounds. In addition, the discount grocer’s sales and market share doubled in the last four years.
Aldi said its profits were affected by a 450 million pounds investment scheme in the past year, which included new stores and enhancing its distribution centres in the UK and Ireland.
The supermarket retailer currently has 726 stores in the UK and aims to have 1000 by 2022. (www.retailgazette.co.uk)
