Half-year results boost United

TURNOVER and profits at United Co-operatives have risen sharply in the first half of the year, according to interim figures released by the society.

With recent acquisitions expected to make a sizeable contribution in the second half of the year, Britain&#039s biggest independent society says it is well placed for another record set of results in 2007.

Chief Executive Peter Marks said: "I am delighted to report that our results for the first half of 2006 have been excellent. Despite exceptionally tough trading conditions, especially for our travel and car businesses, turnover was up 8.6 per cent to &#163 1.11 billion.

"Particularly strong performances were recorded in our food and health care businesses. Even more impressive is the market beating rise in profit before payments to and on behalf of members – the equivalent of pre-tax profit in a plc – which was up 34.3 per cent to &#163 27.9 million."

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