Aldi’s UK profits fall but chain says shoppers are switching to it ‘in droves’

In past 12 weeks 1.5m extra customers visited discount supermarket's stores in Britain

Aldi has revealed a steep drop in UK profits but said that customers are switching to the discount supermarket chain in their droves" from higher-cost rivals as the cost of living crisis bites and shoppers look for lower prices.

The German-owned retailer said that 1.5 million extra customers had visited its UK stores over the past 12 weeks, even as it revealed annual pre-tax profits for 2021 slumped to 36m, compared with 265m in 2020 - an 86% decline.