Co-op notches up record results in a ‘particularly challenging year’

Ali Kurji
Ali Kurji
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Managers at the Heart of England Co-operative Society, which has branches across Warwickshire, are pleased with its latest results.

The region’s largest independent retailer achieved gross sales of £93 million, with trading surplus at £6 million representing an increase of 11 per cent per cent on last year.

The good news comes despite the continued turbulence on the high street with warnings from business recovery experts that 140 well-known retailers could face threat of insolvency by the end of this year.

The society’s net worth now stands at a record £41 million – up almost £4 million in four years.

Society chief executive Ali Kurji said: “To have achieved a record performance in what has been yet again a particularly challenging year is just fantastic and in spite of intensely competitive trading conditions I am delighted our society has achieved exceptional results in Food, Travel and Funerals. The performance shows our policies are paying dividends.”