German discounter Aldi saw profit margins squeezed in 2016 as the UK grocery market remains intensely competitive. Accounts for Aldi’s UK and Ireland business show overall sales increased by 13% to more than £8.7bn (€10bn).
Despite the bullish growth in sales, profit margins in Aldi’s UK and Ireland business narrowed from 3.3% to 2.4% in 2016 as operating profits fell 17% to just over £211m (€240m). Pre-tax profits for 2016 were slightly higher than the previous year at £214m (€242m).
According to the latest figures from Kantar Worldpanel, Aldi has an 11.6% share of the Irish grocery market and accounts for almost 7% of the £179bn UK grocery retail market.
ADVERTISEMENT
Register for free to read this story and our free stories.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
German discounter Aldi saw profit margins squeezed in 2016 as the UK grocery market remains intensely competitive. Accounts for Aldi’s UK and Ireland business show overall sales increased by 13% to more than £8.7bn (€10bn).
Despite the bullish growth in sales, profit margins in Aldi’s UK and Ireland business narrowed from 3.3% to 2.4% in 2016 as operating profits fell 17% to just over £211m (€240m). Pre-tax profits for 2016 were slightly higher than the previous year at £214m (€242m).
According to the latest figures from Kantar Worldpanel, Aldi has an 11.6% share of the Irish grocery market and accounts for almost 7% of the £179bn UK grocery retail market.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS