Aldi promises to continue to offer lowest prices despite big drop in profits

0:20Aldi has pledged to continue to offer the lowest grocery prices in the UK despite suffering a steep fall in profits.

The supermarket chain's chief executive, Giles Hurley, told Sky News:"We've made a very clear commitment that we will always charge the lowest prices in the UK, no matter what. And that's a contract we have with our customers." The company revealed annual pre-tax profits for 2021 fell to £36m, down more than 86% from the previous year."It was a year where we put people before profits and we made the right decisions," he said.

"We looked after the health and wellbeing of our customers. We rewarded our staff who toiled tirelessly during the pandemic. We also invested in price and we continue to expand our business." The company says that over the past 12 weeks it has attracted 1.5 million extra customers to its stores.

Is a lot of that not due to reinvestment in expanding the company?

Any overseas royalty payments taking profits offshore? Huge capex have they heavily depreciated assets?

Only 36mil thats nothing

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