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Markets News

Aldi UK to invest 1.3 bln stg as profits rise

LONDON, Sept 28 (Reuters) - The British arm of German discount supermarket group Aldi said on Monday it would invest 1.3 billion pounds ($1.7 billion) over the next two years as it reported a 49% increase in 2019 profit.

Aldi, Britain’s fifth biggest supermarket group, said it would open around 100 new stores across the United Kingdom over 2020 and 2021 - in line with its long-term target of 1,200 stores by 2025.

It said it expected to create a further 4,000 new jobs next year, adding to the 3,000 roles already created in 2020.

$1 = 0.7831 pounds Reporting by James Davey; editing by Sarah Young

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