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Aldi, which earlier this month overtook Morrisons to become Britain’s fourth-biggest supermarket group, said operating profit was 60.2 million pounds ($63.8 million) in 2021, down from 287.7 million pounds in 2020.
The profit fall was blamed on investment in prices, staff and COVID-19 related expenses. Sales rose 0.9% to 13.645 billion pounds.
Aldi and rival discounter Lidl have been hurt during the pandemic by a lack of significant online businesses, but have drawn customers as the cost of living crisis hits consumers.
The latest industry data shows Aldi’s sales growth at 18.7%, with a market share at 9.3%, the highest in its 32-year history.
($1 = 0.9433 pounds)
