The Co-operative Group has revealed a strong set of results for 2009, with group sales up 31 per cent to £13.7bn (€15.2bn) and group operating profit before significant items up 20 per cent to £473m (€525.7m).
Also included in the record set of results for the 51-week period ended 2 January 2010 was the fact that underlying trading group profit had climbed 22 per cent to £338m (€375.7m), and the dividend paid to customer members had jumped 16 per cent to £55m (€61m).
'These are record results in what has been an historic year for The Co-operative Group,' said CEO Peter Marks. 'Our business has continued to thrive in spite of economic pressure, and I am pleased to report that we are on track with the integration of both Somerfield and Britannia.
“Our food business continues to go from strength to strength following the acquisition of Somerfield,' Mr Marks noted. 'We now run almost 3,000 community food stores and we have a store in every single postal area in the UK bar one. Each week, we serve 21m customers. That means that we are the retailer best placed to deliver great savings to customers, without the need to travel to big superstores.'
Looking ahead, Mr Marks said that the group expected the economic pressures to continue until the end of the year, or even the first half of 2011, and that sustaining the levels of success Co-op has enjoyed over recent years would not be easy.
'All of our businesses are operating in fiercely competitive markets which will only get tougher, so we will be redoubling our efforts to help our customers by providing even greater value and service,' Mr Marks added.
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