Budget supermarket Aldi is set to open 54 stores this year, a further 65 in 2015, and a second distribution hub in the West Midlands.
It has just reported a rise in sales of 35.7 per cent to £5.2bn. Operating profit from was up 57.7 per cent to £271.4m.
It hopes to have 600 stores open across the UK by the end of 2015, with this set to increase to 1,000 by 2022.
Matthew Barnes, group managing director, said: “In addition to new store openings, we’ll be upgrading existing stores to meet customer demand. We’re investing over £600 million in our operations over the next two years to support this growth.
Aldi announced earlier this month that is to open a 120,000 sq ft distribution centre in the West Midlands, which it would run in addition to its main hub in Atherstone, north Warwickshire. The centre, located at Centurion Park in Tamworth, Staffordshire, comprises a 113,718 sq ft warehouse; 5,475 sq ft of offices; eaves of 74ft; 19 dock doors; four-level access doors; and space for 23 HGVs.
Profit after tax was £198m, up £85.5m on the £112.6m reported in 2012. According to figures released by the firm, Aldi holds 4.8 per cent market share.
