Aldi Annual Profits Increase by Double, Sales Grow by 40.6%

AldiGerman low-cost grocery chain Aldi has reported an increase in profits by double in the last year while in sales it has reported a 40.6% increase.

The increasing sales and profits have forced the company to hire more staff for its 500 stores. It also added more checkouts for dealing with around one million new customers.

Aldi is known for its no big-brands goods and for its low-priced versions. After the increasing profits and response from its customers, it has also got into the sales of premium range as well in order to lure new and higher class customers.

Aldi has introduced 34 new stores, which have helped its business to grow by double and also attracted a new class of consumers due to premium range products.

Aldi's Joint Managing Director Roman Heini has also said that these two factors have significantly contributed to growth of the company.

"Whichever figures you look at, they all tell the same story of Aldi growth. We believe this is down to one thing - customers demanding true value", added Heini.

The profits of the company before tax were reported to be £157.9million till December 31, 2012, which increased from £70.5million. The growth in the sales of the company was also reported to reach £3.8billion from £2.7billion.

The remarkable growth reported by Aldi has surely marked a concern for other high-end supermarket chains in the businesses that are struggling hard to retain their patrons.