Aldi UK profit slides 79% in 2021

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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