The British arm of German discount supermarket Aldi said it would open 130 new stores as it reported a first rise in annual operating profit for four years, Reuter reports.
The firm said the investment in new stores and in new and existing regional distribution centres over the next two years would create 5,000 jobs.
Aldi is Britain's fifth biggest supermarket with a market share of 7.6 percent, according to the latest industry data, trailing market leader Tesco, Sainsbury's, Asda and Morrisons.
It currently trades from 775 UK stores and plans to have over 1,000 stores by 2022.
For the year to Dec. 31 2017 Aldi UK and Ireland made an operating profit of 265.9 million pounds, up 26 percent from 211.3 million pounds made in 2016, on sales up 16.4 percent to 10.18 billion pounds.
The firm said it attracted 15.8 million customers, an increase of 1.1 million.
"While other grocers introduced more complexity into their businesses in their struggle to win back customers, we stuck to our guns and focused on doing what Aldi does best – buying smart, staying lean, improving quality and keeping prices low," said Chief Executive Giles Hurley.