Despite Brexit, LIDL's profits in the north have increased fivefold from £1.1million to £5.5million during 2021 thanks to the Protocol giving the store chain in the North access to the EU market
Sinn Féin MLA Ciara Ferguson has said the success of Lidl over the past year has shown that supermarkets selling local produce and supplies from the EU Market are benefitting from the Protocol.
While the two main unionist parties have expressed very vocal opposition to the Protocol, Lidl's balance sheet for their stores in the North show that on the flip—side of the coin, the deal that Northern Ireland got from Europe has its benefits.
Lidl of course recently opened a new store last July in the Springtown Industrial Estate and has proved to be a huge hit with Derry shoppers – something that may well be down to the store having access to the EU market despite Brexit.
Ms Ferguson said: “Over the past year LIDL's profits in the north have increased fivefold from £1.1million to £5.5million during 2021.
“The increase over the past year is in part due to its ability to reduce its reliance on British suppliers and buy more produce from local suppliers along with increased turnover.
“Back in January, Lidl outlined that the majority of its supplies were now coming from the EU and local suppliers as opposed to Britain.
“The supermarket has cited its 'robust and agile local supply chain' and 'approach to sourcing locally' among the reasons for its success as the fastest growing supermarket in the north.
“This is just the latest in a long list of examples that show that the protocol is benefiting businesses and creating jobs and opportunities.”
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