A SUCCESSFUL year of trading by Oxford, Swindon & Gloucester
Co-op has enabled the society to return more cash to the local community.
End of year figures published by the society show a 35% increase in trading profit from last year. Trading profit this year was £ 7.6m, compared to £ 5.6m for the previous 12 months. The society now has an annual turnover of £ 310 million.
As a result, OSG has been able to increase the amount of funds it provides to support the local community and local Co-op members. This year, £ 2.1 million was allocated ? the highest level of community funding by the society during the last five years.
This figure includes the individual dividend paid to members.
Chief Executive Bob Burlton said: `Our end of year figures for 2002/03 are very encouraging, showing growth in the amount of cash generated by most of our business groups.
`The figures also show a steady increase on previous years. As a result we have been able to continue to give significant support to local communities. This included 72 groups funded through our Community Dividend scheme ? which provides grants of up to £ 1,000 each to support beneficial schemes for local community groups`.
This year more and more customers and staff have become members of OSG and the society now has 76,000 ?active' members, with 9,130 new members joining this year – over 550 of them staff.