German grocer Aldi has seen annual profits double to £157.9m in 2012 as it continues to take market share away from the big four.
Sales surged 40.6 per cent to £3.8bn as the grocer signified a move into a broader demographic with moves into affluent areas of the UK including Winchester and Knutsford.
The grocer, which is known for paying its general and area managers handsomely in return for 60+ hour working weeks, will spend £400m opening 34 new stores in the UK in 2013 and 2014.
Joint Group Managing Director, Matthew Barnes, explained the brand keeps its offers simple for customers. “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.”
The average customer now spends £18.63 at Aldi, just behind Sainsbury’s and Morrisons.
The grocer plans to open its 500th store this year as it aims to build on a record 3.6 per cent UK market share.
Roman Heini, joint managing director, told The Daily Telegraph: “We have always been seen as a top-up shopping destination and that has changed now. Most shoppers see us today as a weekly shopping destination.”
Aldi recently revealed it is launching a programme to identify optimum ways to reduce energy consumption in lighting and refrigeration in its stores.