Aldi Australia booked a record profit of over $70 million in 2008, according to a newspaper report.

The privately-owned German grocer, which entered the Australian market place over eight years ago, has been expanding rapidly along the east coast, opening over 25 stores annually. Their rapid growth has already seen them surpass the 200 store milestone and they have plans to see this rise to around 700 in the years ahead.

The company already has a market share nationwide of over three per cent.

Documents obtained by BusinessDay reportedly showed the discount grocer, which has been profitable for the past three years, made a total profit of $72.6 million for the year to December 31.

Being privately-owned the company is not required to disclose their financial statements and revenue for the year remains unknown. However, MD Michael Kloeters said earlier this year that annual turnover at the company was now somewhere in between that of Myer and David Jones – implying turnover of $2.1-$3 billion.

”We have strong expansion plans for Australia and we are growing by at least 25 new stores a year along the east coast,” a spokesperson for the company told The Age. ”In addition, we will be opening two new warehouse and distribution centres, at $150 million each, to support our growth.”

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