Boost in profits for Lincolnshire Co-op

Lincolnshire Co-op
Lincolnshire Co-op
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Lincolnshire Co-op has announced a £170,000 increase in its profits in the last year.

The co-operative society saw a profit of £18.1 million during the 2013/2014 trading year, with total sales reaching £286 million.

It has put the boost down to strong sales in its travel agency and funeral services, teamed with a good performance in food.

Lincolnshire Co-op shares its profits with its 231,000 members who own the business. Dividend card holders will be asked to approve a bonus of £1.3 million at the society’s six annual members’ meetings in November. This is equivalent to an extra 75p per £1 of dividend collected during the financial year.

Lincolnshire Co-op chief executive Ursula Lidbetter said: “We’re very proud of another successful trading year. Because of our strong profits we are able to reward our members with a healthy dividend, give a share of the profits to our colleagues and support many important community projects.

“I’d like to thank our 2,700 dedicated colleagues and our 231,000 loyal members for helping us to produce another positive year with so many great achievements.”