The Midcounties Co-operative has announced a 1.1% sales growth in its food business to £603m.
The group reported an overall 24% increase in gross sales to £1.16bn for the year ending 24 January 2014.
The growth in the food business coincided with an upgrade in its in-store systems to improve the speed of service at the checkout and enable centrally-managed product ranges.
In terms of community engagement, the number of hours volunteered increased by 10% to 44,440. The Society also exceeded its annual fundraising target by raising £273,000 for charity partner Teenage Cancer Trust in just one year. It has now revised its two-year target upwards to £500,000.
Ben Reid, chief executive of The Midcounties Co-operative, said: “These excellent trading results demonstrate that the Co-operative business model really works. As part of our co-operative approach we will be returning a share of our profits to the members and colleagues who have directly contributed to the success of the Society.”
The Midcounties Co-operative is based in Warwickshire, with trading outlets in Oxfordshire, Gloucestershire, Wiltshire, Shropshire, West Midlands, Worcestershire and the surrounding counties.