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Aldi UK profit slides 79% in 2021
2022.09.26 02:30
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© Reuters. FILE PHOTO: An Aldi superstore is seen in London, Britain, September 29, 2018. REUTERS/Peter Nicholls/
LONDON (Reuters) – The British arm of German discount supermarket group Aldi on Monday reported a 79% fall in 2021 operating profit, blaming investment in prices, staff and pandemic-related expenses.
Aldi, which earlier this month overtook Morrisons to become Britain’s fourth-biggest supermarket group, said operating profit was 60.2 million pounds ($63.8 million) in 2021, down from 287.7 million pounds in 2020.
It said trading had accelerated quickly in the past six months as pandemic restrictions were lifted and rising living costs affected shopping habits.
($1 = 0.9433 pounds)
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