Results will drive growth
Pre-tax profit at Midlands Co-op has soared 56 per cent to£25.7 million on turnover of£359 million in the six months to August 12 this year.

The business - which owns 188 stores across the Midlands - said that the figures included retail sales of£241 million and that like-for-like sales in stores not facing new competition had grown 2 per cent on the same period last year. Midlands Co-op said that the strong figures would 'enable it to pursue its strategic plans for growth'.

The business merged with Desborough Industrial Society in May this year and will complete a merger with Ilkeston Consumer Co-op Society on November 5.

Midlands also said that in the first half of the year it had spent£9 million on opening stores in Overseal and Derby.

Midlands chief executive John Fitzgerald said: 'I am delighted with the results - given the tough trading environment in which we are operating.'