A holidaymaker who bought two world cruises from Co-op Travel has received a £727 windfall after Midcounties Co-operative opted to distribute a record £1.5 million of its profits to members and customers.
Midcounties’ members voted in favour of the move after seeing trading profit for the first half of the year increase £1.6 million to £11.8 million.
The Share of Profit payment was for transactions made between January 27 and July 27 and the payment of £727 to the holidaymaker, who was also a member of the society, was the largest single pay-out.
Midcounties CEO Ben Reid said: "What stands The Midcounties Co-operative apart from other businesses is that we only do three things with our profits – invest in the business, distribute them to our members and support local communities.
"This record level of distribution reflects the substantial growth we have achieved this year in reaching £1billion annual turnover, which has been achieved with the on-going support of our members and colleagues.
"We believe this is a timely reminder of one of the core values of a genuine co-operative – that it shares its profit with its members."
Midcounties trades in food retail, funeral,pharmacy, childcare nurseries, flexible benefits and energy as well as travel and runs a number of post offices.
