Aldi's UK profits drop for third successive year despite growth

Discounter’s determination to keep prices lower than rival supermarkets continues to dent profits even as sales rise The UK arm of Aldi has announced a third consecutive year of falling profits as the German discounter struggles to maintain cheaper prices against its supermarket rivals.The grocery chain reported a 17% fall in profits to £211.3m in the year to 31 December 2016, from £255.6m the year before, despite a 13.5% leap in sales to £8.74bn. Continue reading...