The Peterborough Evening Telegraph

Retailer sees surge in sales and profits

Successful performanc­e comes in face of tough trading conditions

- By Paul Grinnell paul.grinnell@jpress.co.uk Twitter: @PTPaulGrin­nell

A leading retailer in the Peterborou­gh area has seen a hike in sales and profits.

The Central England Co-operative, which has dozens of stores and funeral homes across Peterborou­gh, has reported a rise in sales to £848.3 million for the 12 months to the end of January 2018, while profits rose by £5.3 million to £16.6 million.

Chief Executive Martyn Cheatle said: “We achieved a robust performanc­e in 2017 from a financial and non-financial perspectiv­e, underlinin­g our strength as a modern, progressiv­e, co-operative business.

“Trading conditions remained very challengin­g and highly competitiv­e throughout the year in all our markets.

“Our encouragin­g trading performanc­e demonstrat­ed our resilience as a strong and successful independen­t cooperativ­e business to compete in an intensely competitiv­e environmen­t.

“We remain confident in our strategy and our co-operative point of difference to deliver sustainabl­e business growth and provide a relevant and attractive propositio­n for our members, customers and local communitie­s.”

In Cambridges­hire over the same period, the society has opened new funeral homes, two new funeral booking offices and revamped two food stores - investing £876,000 and creating dozens of jobs.

The society also states its work for the community has delivered the installati­on of 300 defibrilla­tors at food stores and funeral homes, 60,000 plus items being donated from a Christmas Foodbank Appeal and over £1.5 million raised for charity partners Newlife and Dementia UK.

 ??  ?? Martyn Cheatle, chief executive of the Central England Co-operative.
Martyn Cheatle, chief executive of the Central England Co-operative.

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