September 25, 2017 / 6:15 AM / 23 days ago

Aldi UK profit falls for third straight year

LONDON, Sept 25 (Reuters) - The British arm of German discount supermarket Aldi reported a 17 percent fall in 2016 operating profit on Monday, a third straight year of decline, reflecting its strategy of maintaining a price gap over larger rivals.

For the year to Dec. 31 2016 Aldi UK & Ireland made an operating profit of 211.3 million pounds ($286.2 million), down from 255.6 million pounds in 2015.

Sales increased 13.5 percent to a record 8.74 billion pounds.

Aldi, Britain’s fifth biggest supermarket, currently trades from 726 UK stores. It plans to have over 1,000 stores by 2022. ($1 = 0.7383 pounds) (Reporting by James Davey, Editing by Paul Sandle)

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