Chelmsford CEO salutes progress

Chelmsford Star Chief Executive Tony Gudgeon has saluted the society’s financial performance after gross takings increased by almost £3 million (9.7 per cent) and like for like growth...

The society said all divisions had contributed to the encouraging figures which had been achieved despite the economic downturn.

A spokeswoman told the News: “Like for like food sales are up 8.4 per cent; own bought departments in our department stores are up 12.5 per cent, with furniture and carpets showing exceptional growth of 17.8 per cent.

“In addition, funeral sales are up 21.6 per cent on a like for like basis and holiday bookings are up nine per cent. The strong like for like performance has lifted gross profit by 12.4 per cent resulting in a trading profit of £540,000 — up 40 per cent year on year.”

The society had concentrated on re-branding its food shops during the half year and the results so far have exceeded expectations, said the spokeswoman.

Commented Mr Gudgeon (pictured): “I am naturally pleased to have achieved such a positive result, especially in these challenging times. I also think we are being rewarded for our carefully thought out business strategies and I pay tribute to my management team who have clearly executed the strategies well.”

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