OSG profits up by 20 per cent

OXFORD, Swindon and Gloucester Co-op has announced that their profits for the half year ending July 26th are up by 20 per cent to &#163 4.3 million.
This follows similar improvements during the first half of last year for the society that is currently investing significantly in both food retail stores and other businesses including funerals and travel.
The increase in net sales has been seen across the society&#039s key business groups ? food retail, funeral, travel, childcare and Motorworld.
The most significant gain is in food retail, which retuned a five per cent increase in like for like sales ? significantly ahead of average for the food industry.
Overall, sales for the society increased in the last half-year by 10.3 per cent to &#163 167.3 million.
During the first half of the year OSG has refurbished food stores in Oxford, Gloucester, Stonehouse near Stroud, Watchfield near Swindon and Milton-under-Wychwood in the Cotswolds.
A purpose-built &#163 5 million supermarket, which also houses the town&#039s library, was opened in Highworth near Swindon. The society has also refurbished and re-launched funeral homes in Swindon, Abingdon and Didcot and opened a new Travelcare branch in Stonehouse.
A Travelcare branch was also refurbished in Summertown, Oxford. The society intends to open three purpose-built childcare nurseries in early 2004.
Chief Executive Bob Burlton said: `We are very pleased to see these excellent results which show that we are continuing to expand and move forward.`