Discount retailer Aldi saw its UK and Irish businesses swing to a loss of over GBP58m (US$92m) in 2009 on the back of rising costs and investment in expansion.
The company booked a loss of GBP58.04m for the 2009 calendar year, accounts filed with Companies House show. In 2008, Aldi’s operations in the UK and Ireland generated a profit of GBP73.6m.
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Sales inched up 1.6% to GBP2.04bn despite the retailer opening 45 new stores and extending a number of existing outlets.
The retailer said that over the the year it “continued to make significant investment in expanding its new business” and that the programme will “contribute to further increases in turnover and generate an operating profit in the future.
Meanwhile, Aldi’s cost of sales rose from GBP1.92bn in 2008 to GBP2.06bn in 2009.
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In 2009, Aldi made an operating loss of GBP21.2m, against an operating profit of GBP88.8m in 2008.
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By GlobalDataYesterday (7 October), it was revealed that Aldi had scrapped its plans to build a new 600,000 square foot office building and distribution centre on the Isle of Sheppey.
