Aldi boost as profits up 124%

After supermarket chain Aldi posted record profits, Joint Group Managing Director, Matthew Barnes, explained the brand doesn't try to confuse its customers with complicated offers.

He said: “We give customers exactly what they want, which is the best products at the best prices, everyday of the year. We have a simple low pricing offer that customers really understand and we don’t try to confuse them with the likes of multi-buy promotions.”

He added: “Weare continuing to open stores right across the country, attracting more peopleand a broader demographic to Aldi.

“We have opened in affluent locations like Knutsford and Winchester and have quickly won over local customers with our award winning quality and value."

Accounts posted today for Aldi show the budget supermarket has grown pre-tax profits by 123.9 percent to £157.9 million.

In the year ending December 31, 2012, total group turnover also increased by more than £1 billion, representing a 40 percent increase over 2011.

The chain has attributed the growth to "increases in footfall, market share and basket size".

Budget supermarket Aldi has posted record profits, increased its sales by more than £1 billion and attracted a million more customers through its doors, The Daily Telegraph reported.

Aldi's market share has risen to a record 3.7% from 3.2% in December last year as it continues to attract middle class customers away from bigger names such as Tesco, Sainsbury's, Morrisons and Asda, according to research firm Kantar Worldpanel.

The financial results also show that customers are spending more at Aldi and its average basket size has grown to £18.63, just behind Sainsbury's and Morrisons.

The supermarket also hopes to lure more customers this Christmas with a new luxury range that includes lobster for the first time.