Record profits for Raunds Co-op

RAUNDS Co-op has announced record trading profits for its financial year ended 13th September ? its fourth year of successive growth. The annual report of this small Northants-based...

RAUNDS Co-op has announced record trading profits for its financial year ended 13th September ? its fourth year of successive growth.
The annual report of this small Northants-based society reveals that its trading surplus increased by 35.8 per cent over the corresponding year, to &#163 289,732 being 5.3 per cent of net sales, with its food, non food and farm departments all contributing to this record-breaking performance.
Sales, in spite of intense retail competition and difficulties in farming, increased by 3.7 per cent on a like for like basis to &#163 5.9 million.
After paying out &#163 67,192 in dividend the society increased its general reserves by &#163 308,728, a growth of 10.7 per cent over the year, making its total reserves &#163 4.3 million which represents more than six times cover on members share capital.
The directors&#039 report refers to its decision as a responsible retailer to not sell fireworks in its stores and that its farm has joined the Countrywide Stewardship Scheme which means that it will actively encourage a wider diversity of wildlife on its land by sowing meadows of wild bird seed, pollen and nectar rich plants and grasses to provide a food source for birds, small mammals and insects.
Raunds membership base grew by 4.1 per cent during the year to now stand at 4,297.

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