East of England Co-operative — Britain’s third largest independent society — has reported a one per cent increase in turnover from continuing operations to £352.5 million for the year ended January 22nd.

Despite a small increase in membership and enhanced contributions from several retail societies, the Co-operative Party reported a loss of £41,804 for the year ended December 31st 2009.

The Co-operative Party had a £470,000 boost to its election battle funds at the start of this year, according to a report from the Electoral Commission.

The Co-operative Group has defied the economic downturn by announcing a 17 per cent increase in profits for the 28 weeks ended July 25th.