Home Business News Co-op sales soar to £10.2bn

Co-op sales soar to £10.2bn

by LLB Reporter
5th Apr 19 8:01 am

Co-operative Group sales have soared after the acquisition of Nisa convenience stores in 2018.

The company returned £79m to members and local projects, as total revenues hiked by 14% to £10.2bn in the 52 weeks to 5 January, driven by the additional business from Nisa.

Like-for-like food sales went up by 4.4%, pre-tax profit from continuing operations were up by 27% to £93m.

Underlying pre-tax profits were flat at £43m, and the Co-op funeral division saw a 1% drop in revenue due to competition.

Steve Murrells, chief executive of the Co-op said, “We continue to demonstrate that the Co-op is a good business that does good for society as we lead on issues including single-use plastics, funeral affordability and social housing.

“It is this determination to make a positive difference for all of our stakeholders which will ensure that we fulfil our ambition to build a stronger Co-op and stronger communities.”

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