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.

THE newly enlarged Co-operative Group has got off to a highly successful start with trading group profits up 22 per cent against budget in the first three months since the summer merger with United Co-operatives.

LEEDS Co-op members have voted overwhelmingly in favour of the proposed merger with United Co-operatives. A meeting at the city's Hilton Hotel achieved well above the necessary two thirds majority, with over 90% of members present voting in favour. A confirmatory meeting will be held on January 8th and if a majority of those present vote in favour again, the merger will take place on January 12th.

BRITAIN'S two biggest independent retail societies look certain to expand through mergers in the next few months. Sheffield Co-op members have already given the proposed merger with United Co-operatives a massive thumbs-up, while Ilkeston Society's assimilation into Midlands Co-op needs only to be ratified by the Financial Services Authority with an official transfer of engagements scheduled for early next month. Following an 87% vote in favour by Sheffield Society members in an initial ...