LINCOLNSHIRE Co-operative has announced encouraging results for the year ended September 4th.
According to the society's recently-published annual report, turnover increased by 8.2 per cent to £ 238 million ? well ahead of the rate of inflation ? with strong sales performances across most divisions. Group trading surplus increased to over £ 12 million.
£ 14 million of capital was invested in the business in the year and reserves increased by over £ 18 million to £ 158 million.
The society added three new food stores in the year plus two pharmacies and two additional Travelcare outlets. Two extra community post offices were also acquired, bringing the total under the co-op's management to 41.
Washingborough Post Office was voted best in the North of England in a national awards competition and Westcliffe in Scunthorpe was regional winner of the banking section.
The pharmacy division achieved an award for the quality of its training at the National Training Awards and the society also received national recognition of its Age Positive policies in recruitment and training.
As a result of the successful year, the amount distributed to staff through the profit share increased to £ 950,000; over £ 3.3 million was used to provide member benefits and £ 317,000 was allocated to community good causes.
The Lincolnshire Co-operative Development Agency set up by the society and its partners last year has advised 79 social enterprises and is already making a significant contribution to the development of the local social economy.
Lincolnshire Co-op's recently-appointed Chief Executive Ursula Lidbetter commented: "Once again, this is a solid set of results and we are pleased with our progress in many areas, in particular food and pharmacy.
"The awards we have received for recruitment and training underline our commitment to ensuring that we are able to meet the challenges and opportunities ahead."