Unveiling results for the 52 weeks to December 31, Aldi UK and Ireland chief executive Giles Hurley was in celebratory mood. The figures, he said, showed that the value giant had achieved yet another “record year”, disrupting the UK grocery sector and winning customers, sales and market share from rivals.

An 11% increase in sales to more than £11.3bn, and a 5% increase in customer numbers to in excess of 16.6 million, were certainly worth crowing about. But the retailer also reported some eyewatering slumps in its operating and pre-tax profit columns – the former was down 26% to £197.9m and the latter fell 18% to £182.2m.