THE Co-operative Group's annual results for the year ended January 12th show profits down from £ 361 million to £ 249.6 million, mainly as a result of one-off costs associated with last year's merger with United Co-operatives and restructuring costs in the Group's financial services arm, CFS. However the overall picture is bright with the Trading Group reporting an operating profit of £ 322.7m before significant items - an increase of 35.2 per cent on the previous year.

A fourth consecutive year of record results has been announced by United Co-operatives since the United/Yorkshire Co-op merger in 2002. Profits at society are up 76 per cent on the back of a turnover increase of 5.5 per cent. 

THE Co-op Movement has pledged to continue working with the Government to eliminate sales of alcohol to young people under 18 after figures released by the Home Office put the Co-op third from bottom of a table of offending retailers. However the fact that the ratio of "successful" secret test purchases in Co-op supermarkets across the UK has fallen from 48 per cent last summer to 17 per cent this month is being seen as welcome progress and proof that the Movement's responsible ...