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Aldi bullish as profits rise 65%

13626966_lUK: Discount supermarket Aldi has reported a 65% rise in profits as its share of the UK grocery market continues to grow.

Pre-tax profit was £260.9m in its UK and Irish business in 2013, up from £157.9m on the previous year. Market share is now said to be 4.8%, according to Kantar Worldpanel, as it continues to close on Waitrose.

Fellow discount store Lidl is tucked in behind Aldi in eight place after its market share rose by 3.5%.

Aldi opened 42 stores in 2013 with 54 planned to open this year and another 60 to 65 planned for 2015. This would take the total number of UK stores to more than 600, the company said.

The company is also reported to be planning a new 42,200m2 distribution centre in Cardiff as part of a £600m investment in its operations over the next two years.

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