LEEDS Co-op has unveiled another set of record results ? with profits up by almost 29 per cent to £ 1.6 million for the year ending 8th January ? the best for nearly 30 years.
Turnover was just over £ 75 million, up by 1.4 per cent on a like-for-like basis on last year, and the net assets of the society stood at £ 24.6 million ? an increase of 9.8 per cent.
Members' share capital was up to £ 2.6 million, an increase of £ 72,000 or 2.8 per cent.
The introduction of the dividend card at three of its branches helped to boost membership by nearly 1,500 during the year.
The society now has over 21,000 active members and the number attending the two members' meetings in the year was significantly higher than previously.
"We're delighted to continue the trend we've seen over the last seven years or so, of ever-improving performance," said Alan Gill, Chief Executive. "We've still got more to do to meet our overall financial objectives but this is another step in the right direction.
"In addition to profits, our success depends on active members and we're delighted to see the number of people joining us has jumped again."
The society has continued to encourage the purchase of Fairtrade products, and won the ?Best Leeds Supermarket for Fairtrade Award' for the second year running.
Employees were involved in helping the community across a range of activities, raising £ 35,467 for Macmillan Cancer Relief while the society gave a further £ 8,000 to local good causes.
The food division performed well with a turnover of £ 36.2 million ? a like-for-like increase of 4.7 per cent on last year.
Travel sales were down slightly on last year at £ 32.6 million. Property rental income increased by 11.5 per cent to £ 914,000.
Turnover in the Funeral Division fell slightly to £ 3.7 million, reflecting a decline in the number of funerals in the city. However the division contained its cost base while maintaining high standards of service, and as a result total profit contribution increased by over 25 per cent compared to the previous year.
Optical Division turnover from its five branches was £ 793,000, with an increase in profitability over the previous year.
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