The Channel Islands Co-operative Society has seen a slight drop in turnover as a result of a busy year in its retail portfolio.
Total turnover excluding agency turnover was £168.7 million, down 0.49 per cent on the previous year, which the organisation attributed to the closure of its Total Sport outlet, food deflation and lower fuel prices. The closure of its food warehouses also had an impact.
Last year, the Co-operative opened a Locale store in Grouville, Jersey, and an En Route in St Sampson’s, Guernsey. In addition, a major refurbishment was completed at Grand MarchÉ in St Peter, Jersey, adding a Totstop and travel services, and upgrading the food, pharmacy and medical offer. Progress was also made with planners on the Charing Cross development in Jersey.
A strong performance by its Travel and Funeral Care arm (up 34.5 per cent on the previous 12 months) and Homemaker division (up 1.3 per cent) failed to offset a drop in its food and fuel stores’ performance (down 1.1 per cent on 2014).
The amount returned to members in share interest, dividend and double dividend rose to £8.314 million, up from £8.09 million in 2014.