Sales at The Co-operative's 2,800 food stores grew by 1.6 per cent in 2015, giving the company a £250 million profit.
The Co-op said its convenience stores were outperforming the UK grocery market, as people's shopping habits were changing as they made more frequent trips to buy food.
Earlier this week, Kantar Worldpanel reported that The Co-op's sales had risen at their fastest rate since it bought rival Somerfield in 2011, climbing by 3.9 per cent.
Meanwhile, drivers at The Co-op have voted to accept proposals to settle a dispute over outsourcing jobs, the Unite union says.
The dispute centred on the future of the company's drivers after plans were put forward to transfer 87 members to haulier Eddie Stobart.
Unite, which represents more than 700 Co-op drivers, said it had been given 'a firm commitment for their future' in line with a five-year plan.
The Co-op said it was pleased with the ballot's outcome.
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