Unexpected fall in death rate contributes to lower interim profit levels for Co-op

Allan Leighton
Revenues increased at the Manchester-based Co-operative Group in the six months to July 6, although pre-tax profits declined. The group, celebrating its 175th anniversary this year, reported revenues of £5.34bn, 12% up from £4.83bn the previous year. However, a pre-tax profit, on a non-IFRS accounting basis, of £30m, compared with £44m in 2018. During the six month period the group said it returned £29m to members and £6m to 4,000 local causes. It also recorded 22 consecutive quarters of like-for-like sales growth in... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...