UK profits up for Aldi

<p>Aldi has seen its UK profits rise.</p>

Profits in the UK are up for Aldi, the supermarket chain has revealed in its latest results.

The firm announced that it recorded growth in profits of 124 per cent to £157.9 million in 2012.

Aldi's newest accounts show revenues were up 41 per cent to £3.9 billion last year.

Group managing director Matthew Barnes explained the pricing strategy employed in Aldi stores is one of the main reasons it has performed so well in the UK in the last 12 months.

"We have a simple low pricing offer that customers really understand and we don't try to confuse them with the likes of multi-buy promotions," he said.

Neil Saunders, managing director of retail analysts Conlumino, told BBC News that Aldi has been outperforming its supermarket rivals in the UK in the last year.

He explained the "austerity mindset" across the country is one of the reasons why Aldi has done so well, along with the company having "pushed the perception and image of the store upward".

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