A fourth consecutive year of record results has been announced by United Co-operatives since the United/Yorkshire Co-op merger in 2002.
Profits at society are up 76 per cent on the back of a turnover increase of 5.5 per cent.
Chief Executive Peter Marks (right) told the News: “Despite some of the toughest trading conditions, all our core businesses recorded market-beating performances. Our results clearly demonstrate the benefit of bringing together two strong societies to create an even more successful business.”
Turnover, at £2.2 billion for the 52 weeks ended January 27th, was up 5.5 per cent or 7.5 per cent when adjusting for the fact the previous year was a 53-week period. Pre-tax profits were up 76 per cent at £62.4 million, with underlying pre-tax profits before exceptional items up a very healthy 22.8 per cent, well ahead of the retail sector generally.
Full story in Co-op News, published April 3rd.