THE newly enlarged Co-operative Group has got off to a highly successful start with trading group profits up 22 per cent against budget in the first three months since the summer merger with United Co-operatives.
Chief Executive Peter Marks made the announcement during his speech to the half-yearly meeting in Manchester where he claimed that doubling the trading group’s profit over the next three years is an achievable and realistic target.
Mr Marks said that, instead of taking their eye off the ball as often occurs in a post-merger situation in retailing, the new management team had achieved even stronger growth in sales and profits.
“Such a result would be good at any time, but with background of the integration it’s exceptional and I take my hat off to my management team and all of our employees who have done an absolutely sterling job in difficult circumstances.”
Full story in the News, published Tuesday November 13th.
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