SHEFFIELD Society has reported a record trading profit for the year ended January 25th.
The co-op's annual report reveals a surplus ? before staff bonuses and member benefits ? of £ 2,815,000 and a net trading surplus of £ 1,874,000, an increase of over 21 per cent on the previous year.
Overall sales were up by over seven per cent to £ 67,866,000, a result that, according to the directors' report, reaffirms Sheffield Co-op as one of the UK's most profitable retail societies on a pound for pound basis.
However while sales in the society's food division increased by over 13 per cent to almost £ 47 million, partly as result of the co-op's store refurbishment and acquisition policy, the non-food, travel and property services operations all saw reduced sales.
Non-food sales fell by 3.7 per cent to £ 8,259,467 while the drop in travel sales was even more marked, with a nine per cent decrease resulting in sales falling by £ 545,215 to just over £ 5.5 million
The society's property services division is praised in the report for delivering the new Stocksbridge store on time and on budget, but overall sales fell by over 21 per cent to £ 608,278.
On the plus side, Sheffield Co-op's petrol stations saw sales rise by almost five per cent to over £ 10.4 million; the funeral division sales increased by 2.3 per cent despite the falling death rate and the society-owned crematorium increased sales by over £ 60,000 to over £ 505,000.
Society membership fell to 76,383 at the year end due to 243 accounts being closed or cancelled and only 29 new members signing up.
The report records the board's thanks and appreciation to all employees for contributing towards the "excellent" results achieved in the financial year and reiterates the society's commitment to applying co-operative values and principles in providing quality goods and services for members, customers and the local community.