25.11.2021
Lidl Northern Ireland posts strong full year results amid exponential growth
Northern Ireland’s’ fastest-growing retailer upbeat for the year ahead after posting strong full year results
Lidl Northern Ireland today posted strong full year results for the 2020/2021 trading year, demonstrating exponential business growth during a period of unprecedented challenges.
The retailer, who was recently named Retail Company of the Year at the Business Eye Awards filed financial results for the period March 2020 – February 2021 recorded turnover of more than £345 million – up almost a quarter on the previous year.
Consistently confirmed by Kantar Worldpanel as the region’s fastest-growing retailer, Lidl Northern Ireland credits its growing market share to investing in its local store and supplier network and maintaining a robust supply chain to bring its Big on Quality, Lidl on Price proposition to even more shoppers across the region.
Last year, Lidl Northern Ireland confirmed a £32 million investment for the Greater Belfast area in opening three new stores at Crumlin Road, Boucher Road and Holywood Exchange as well as revitalising its premises at Castlereagh Road and Shore Road. The retailer also announced a further £26 million investment into the North West region including opening a brand-new state-of-the-art store in Buncrana Road in Derry~Londonderry, progressing with plans for an additional nearby store in Crescent Link and Strabane.
Buoyed by a long-established strategy to build a strong local supply chain, Lidl Northern Ireland continues to develop its growing network of more than 50 local suppliers from which it sources almost £300 million worth of goods each year.
Lidl Northern Ireland has also significantly invested in its people over the last 12 months, growing staff numbers to more than 1,000 employees for the first time and implementing a range of industry-leading initiatives and benefits packages for staff including paying three separate Covid bonus payments to all staff in an investment worth more than £300,000. Earlier this year, Lidl Northern Ireland was named a Top Employer for 2021 by the Top Employers Federation.
The announcement comes on the back of the retailer being the first supermarket in the region to confirm it is exceeding the Real Living Wage recommendation, committing to a new entry hourly rate of £10.10, twenty pence higher than the recommended £9.90 rate announced last week by the Living Wage Foundation.
For more information visit www.lidl-ni.co.uk