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.
You may also want to watch:
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.
- 1 Postman who abandoned 'undriveable' van wins unfair dismissal claim
- 2 Caravans pitch up at Felixstowe park
- 3 Former Ipswich Town boss Keane as you've never seen him before
- 4 Jack Whitehall praises award-winning Suffolk gastropub after visit
- 5 A14 and A12 set for major upgrade work
- 6 Busy high street taped off by police
- 7 Coronavirus 'growth rate' rises further in East Anglia
- 8 Glass found in popular paddling pool forcing it to close
- 9 'Too many men can cause a problem' - Ashton says quality, not quantity, is key in Town's squad rebuild
- 10 GP surgery in 'special measures' after patients and staff raise concerns
“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.