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09/04/2015
Co-Operative Group Returns To Profit
The Co-Operative Group has returned to profit following a previous year of losses.
The firm delivered a pre-tax profit of £124 million in the year to January compared to a £255m loss in 2013.
Allan Leighton, Independent Non-Executive Chair of The Co-operative Group, said: "I am putting together a Board which will be firmly focused on the tough job ahead of Rebuilding the Co-operative, underpinned by the far-reaching governance reforms introduced in 2014.
"This is not just another commercial turnaround. The Co-operative Group is different because we are owned by our members. They have a direct say in running the business, through electing Member representatives to the Board and the Council; and through having a say on key issues through the One Member One Vote democratic process."
(CD)
The firm delivered a pre-tax profit of £124 million in the year to January compared to a £255m loss in 2013.
Allan Leighton, Independent Non-Executive Chair of The Co-operative Group, said: "I am putting together a Board which will be firmly focused on the tough job ahead of Rebuilding the Co-operative, underpinned by the far-reaching governance reforms introduced in 2014.
"This is not just another commercial turnaround. The Co-operative Group is different because we are owned by our members. They have a direct say in running the business, through electing Member representatives to the Board and the Council; and through having a say on key issues through the One Member One Vote democratic process."
(CD)
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