Aldi to build more stores as profits leap 65pc

Aldi plans to open up to 65 new stores next year as it continues to step up the pressure on the Big Four grocery chains.

The German firm announced its expansion plans alongside a 65 per cent leap in 2013 pre-tax profits to a new record of £260.9m.

Aldi’s UK sales rose 36 per cent to £5.3bn.

The performance, which contrasts with the difficulties facing Tesco in recent months, has helped Aldi to grow its market share to 4.8 per cent in recent weeks.

Aldi already has more than 530 outlets in the UK, including some 50 in Yorkshire.

The group said it was too early to say where the new stores will be sited.

Aldi has revolutionised the UK grocery market – making shopping on a budget something respectable for the middle classes to talk about as family incomes were squeezed.

Having introduced cut price champagne and lobster in previous festive seasons, its latest salvo in the upcoming Christmas war will be a chance to buy the ultimate luxury treat with Beluga caviar for under £10.

Managing director Matthew Barnes said the pace of growth quickened in the first half of this year at Aldi, despite the efforts of the major supermarkets to cut their prices in response to the squeeze on household incomes and competition from the discounters.

Mr Barnes said: “The price cuts have encouraged consumers to think more about what supermarkets charge and have really shown that our everyday low prices can’t be beaten.”