Aldi has unveiled plans to pump a further £1.6 billion into accelerating its UK supermarket expansion, following the revelation that its sales climbed last year.

The budget retailer said the investment would fund the launch of 80 new outlets over the coming two years.

Aldi , which presently operates 1,060 stores, has previously stated it is aiming for 1,500 locations nationwide.

The announcement came as the firm disclosed total sales of £18.1 billion across the UK and Ireland throughout 2024, rising from £17.9 billion in 2023, following the launch of numerous new stores during the period.

Nevertheless, operating profits dropped by roughly a fifth to £435.5 million from £552.9 million the previous year.

The company explained this was primarily due to its expenditure on reducing prices

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