Co-op achieves profit and membership growth against external headwinds

Co‑op’s Financial Snapshot: Steady Sales, Big Boost in Profits, and a Debt‑Slimming Tactic

Revenue stays on track – the Co‑op nailed its £11.3 billion sales target while putting the spotlight on higher profits and shrinking net debt.

Key Highlights

Membership climbed 22 % to 6.2 million – a tidy move toward the 8 million goal for 2030.
Revenue held steady at £11.3 billion (a full 53 weeks of comparison).
Underlying operating profit jumped by £34 million to £131 million.
Profit before tax leapt to £161 million, up £133 million from last year.
Net debt (excluding leases) fell by £27 million to £55 million – a 94 % drop in 3 years.
Liquidity sits at £820 million, backed by a sustainable £400 million revolving credit line until 2029.
ROCE improved to 4.7 % from 3.4 %, an uptick thanks to disciplined capital use.

Why the Numbers are Good News

The Co‑op’s strategy of tailoring cost‑cutting and investment choices to support members, staff, and local communities is paying off. With the “right‑size” of the business, profit figures have risen while debt has shrunk – and the balance sheet stays solid. Standard & Poor’s upgraded the long‑term credit rating, giving the Co‑op a stronger footing in a still‑challenging market.

Statements from the Executive Team

Debbie White, Chair: “Our member‑owner focus coupled with long‑term growth is working – especially the 22 % increase in active members. Thanks to every colleague for turning this into reality.”
Shirine Khoury‑Haq, CEO: “Our strong business performance and strategic right‑sizing give us confidence. We keep lifting our members and communities through tough cost‑of‑living times, while marching toward 8 million members by 2030.”