German discounter Aldi has revealed plans to invest in UK store expansion over the next year as the division recorded a return to full-year profit.
The discounter today (1 October) said it is planning to invest GBP181m (US$292m) in the opening of 40 new stores by the end of 2013, taking its total number of UK stores to over 500.
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This will see the creation of 4,500 jobs in 2012, it said.
Aldi opened 29 stores in 2011 and completed a major store refurbishment programme.
The investment comes on the back of a return to profit for the discount retailer.
In accounts filed at Companies House today, for the year ending 31 December 2011, Aldi revealed a post-tax profit of GBP57.8m in the UK, compared to a GBP56 loss a year-earlier when it was hit by a GBP58.5m property write-down.
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By GlobalDataThe retailer attributed the growth to the development of its bakery, fresh meat and fruit & vegetables ranges and responding to consumer needs.
Operating profit in the 12 months jumped from GBP18.7m to GBP102.9m in the period, while turnover climbed 29% to reach GBP2.76bn.
