Co-op sees off recession with sales boom

As the economy shows signs of recovery the news is good for Suffolk as The East of England Co-op today announced sales have increased.

SUFFOLK: As the economy shows signs of recovery the news is good for Suffolk as The East of England Co-op today announced sales have increased.

The largest independent retailer in the area revealed a 22.2 per cent boost in underlying profit to �7.2million for the first half of this year.

And turnover for their continuing operations increased by 3.4 per cent to �205million for the 28 weeks ending on August 8.

Growth in the company's Food Retail business, with stores throughout Ipswich and Suffolk, has completed its 14th successive quarter of like-for-like sales growth.


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An achievement the company say is significant accounting for the high levels of competition with the local trading environment and the economic climate.

Richard Samson, chief executive, said: “We have continued to refurbish and rebrand many of our stores and they are showing good sales increases as our customers appreciate the modern services and facilities that we are providing.

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“We're gaining new members every week and the value of our Members' Dividend Scheme continues to be a significant benefit, with more than �4.2 million paid out to our members across the region earlier this year.

“The hard work and commitment from colleagues across the Society is once again a key factor in our success.”

The Society's loss-making Department and Home Stores business was sold in July and in recent months the company has undertaken mutli-million pound investment in the larger supermarkets in Framlingham, Leiston, and Frinton-on-Sea and there are plans to open more stores in the region.

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