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Aldi UK profit falls for third straight year

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Aldi UK profit falls for third straight year

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LONDON (Reuters) – The British arm of German discount supermarket Aldi [ALDIEI.UL] reported a 17 percent fall in 2016 operating profit on Monday, a third straight year of decline, reflecting its strategy of maintaining a price gap over larger rivals. For the year to Dec. 31 2016 Aldi UK & Ireland made an operating profit of 211.3 million pounds ($286.2 million), down from 255.6 million pounds in 2015. Sales increased 13.5 percent to a record 8.74 billion pounds. Aldi, Britain’s fifth biggest supermarket, currently trades from 726 UK stores. It plans to have over 1,000 stores by 2022.

(Reporting by James Davey, Editing by Paul Sandle)
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