Scotmid Co-operative has announced an increase in trading profit and turnover in its interim first half results, with the performance of its food stores “particularly encouraging”.
Trading profit increased by 8% to £2.5m and turnover by 1.6% to £190m for the 26 weeks ending 27 July 2019.
The group said its food retail sales growth was ahead of the Scottish Retail Consortium’s like-for-like average and was driven by food to go.
Scotmid chief executive John Brodie said the results were achieved in the face of challenging cost pressures and the uncertainty surrounding Brexit.
“Food convenience and property were the main drivers of growth. The performance of our food stores was particularly encouraging with the continued work on our ‘famous for food’ strategy helping to drive growth in a summer period which did not compare with the record breaking summer the previous year,” he added.
“Our property business benefitted from new lettings and rental income growth.”
The society raised £325,000 for its animal welfare charity partners Scottish SPCA, RSPCA and USPCA.
On 4 November 2019 Scotmid celebrates its 160th anniversary.
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