The parent company of Lidl, the Schwarz Group, has reported sales of €133.6 billion (£113.4 billion) across its operations last year.
In its latest figures to 28 February 2022, the group saw an increase of €125.3 (£106.4 billion) from the previous year.
The group, which boasts £13,300 stores and over half a million employees, revealed its Lidl and Kaufland divisions “demonstrated their high performance and agility even in challenging times”.
READ MORE: M&S results expected to be in a ‘tricky spot’ as inflation soars
Discount grocer Lidl saw a 4.7% to €100.8 billion (£85.59 billion), while Kaufland reported a 7.4% increase to €27.3 billion (£23.18 billion).
Schwarz Group also invested €8 billion (£6.8 billion) in its operations last year, which included store expansion shop modernisation, and the digitalisation of the corporate group.
The rise in sales comes as the cost of groceries has sky rocketed at its fastest rate for 13 years, according to new figures.
According to research by Kantar, Lidl and Aldi were the strongest performing grocers for the period. Lidl sales increased by 6.0% in the 12 weeks to May 15, ahead of Aldi which increased sales by 5.8%.
Earlier this month, Lidl being named the UK’s cheapest supermarket for the fourth month in a row.
According to consumer group Which? Lidl beat discounter rival Aldi by just 74p for 18 items of groceries, with a basket price of just £25.92, compared to Aldi’s £26.66.
Click here to sign up to Grocery Gazette’s free daily email newsletter
