Scotmid Co-op has reported turnover of £213m for the half-year to 16 July, with a trading profit of £112,000.
It says the results come “despite facing one of its most challenging trading periods in recent memory”, with April’s cyber-attack on the Co-op Group disrupting supply chains and stock availability for Scotmid and other independent retail societies.
“While the summer weather was favourable, the timing of the incident limited the society’s ability to fully capitalise on seasonal trading opportunities,” Scotmid added.
The society said it retains a strong balance sheet and is “firmly committed to growth, innovation, and modernisation”.
Capital investment programmes include store refits, a new store opening in Fountainbridge, infrastructure upgrades and the rollout of technology, such as self-scan checkouts. The society has also prioritised investment in its expanded funeral division, in particular with enhancements to care centre facilities.
Related: Co-op Group says cyber attack cost £206m in lost sales in half-year report
“This was a half-year like no other,” said CEO Karen Scott. “While none of our systems or data were compromised, our supply chain was heavily impacted by the Co-op Group cyber incident. Our teams pulled together brilliantly – we acted fast, found local solutions, and kept our focus.
“Stores continued to trade, systems were safeguarded, and our commitment to members and communities never wavered. That resilience is something I’m incredibly proud of.”
The food convenience division bore the brunt of the disruption, the report adds, but “solid performances from Scotmid’s property and funeral businesses helped offset some of the retail volatility”.
The property business continued to benefit from long-term strategic investment, it added, while the funeral division remained stable despite market-wide shifts in demand.
“Retail conditions remain tough and cost pressures are real,” warned Scott, “but we’re in a strong position to move forward. We continue to invest in our stores, our people and our communities.
“We remain committed to supporting local good causes through our Members’ Choice Awards and are proud to have raised £288,000 for our charity partner Maggie’s.”
