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Co-operative Travel reports big jump in sales
The Midcounties Co-operative will make over £6m in share-of-profit payments to its members and colleagues following a record rise in sales.
The group reports today a 24% increase in gross sales to £1.167 billion in the year ended 25 January 2014, with operating profit before significant items up 21% at £22m.
Its travel arm, Co-operative Travel, grew sales by 61% to £276m following new branch acquisitions and the recruitment of more home-based personal travel advisors.
The group also has food, energy, funeral, pharmacy, and childcare businesses.
"These excellent trading results demonstrate that the Co-operative business model really works," said chief executive Ben Reid.
"As part of our co-operative approach we will be returning a share of our profits to the members and colleagues who have directly contributed to the success of the Society."
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Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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