Co-op posts best growth since 1960s

The Co-operative movement’s net profits rose by 38 per cent last year to £441 million, it reported at its annual congress in Manchester.

The 42-consumer owned co-operative societies that make up the group, including supermarkets, travel shops and financial service companies, increased their combined takeover by 6.4 per cent£13.3 billion. The profits rise is the biggest since the 1960s.

Dame Pauline Green, chief executive of Co-operatives UK, said: “Our improvement in profitability and market share is the result of greater focus on business performance, acquisitions and improved financial management.”