Budget supermarket chain Aldi has announced its largest package of annual investment to accelerate its expansion across Britain.
The group is to invest some £800m in expanding its store portfolio across the UK, with at least 23 new locations opening before the end of the year.
The £800m investment this year is part of a £1.4bn, two-year investment plan in the UK, which will see the group open new stores, refurbish 100 existing stores and expand its network of distribution centres.
Aldi currently has more than 1,000 stores in the UK and had previously announced plans to grow this to 1,500 stores.
The investment plans come as the group reported its annual results for the 12 months ended 31 December 2023. The figures showed sales up by 16% to £17.9bn, its highest period of growth so far.
Pretax profit more than tripled to £536.7m, up from £152.6m a year earlier, driven by record sales combined with greater efficiencies across its stores and central functions.
Aldi UK chief executive Giles Hurley said: “British shoppers are voting with their feet and choosing Aldi as their first-choice supermarket. We are responding with our biggest ever annual investment in Britain.
“For every £1 of profit generated last year, we are investing £2 this year – opening more stores and building the supply infrastructure to bring high-quality, affordable groceries to millions more families the length and breadth of Britain.”
Image © Aldi
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