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Aldi's profits in UK up by 65%, pledges to continue price war

  • German firm Aldi has pledged to continue the supermarket price war while announcing a 65% hike in its UK profits, reports say.

    Aldi’s Britain joint managing director Matthew Barnes said the company would not let rival firms compete on price or “close the gap.”

    He said discounts offered by Morrisons and Tesco had only benefited Aldi as consumers had become more aware of prices.

    Aldi opened more than 40 new stores last year and is opening over 50 this year, media reports said.

     

    Tagged as: German, Aldi, supermarket, price war, UK profits, Matthew Barnes, Morrisons, Tesco, business news