Aldi increases Austalian profits

Hard discount retailer Aldi Süd increased its profits in Australia last year and wants to allocate about Aus$1bn (£603.3m) in new capital funding within the next three years to support its aggressive growth strategy.

Aldi posted a net profit of Aus$91.9m (£55.5m) for the 2009 calendar year, an increase of 27% compared with a profit of Aus$72.6m (£43.8m) in 2008.