Co-op first-half sales up 10% to £5bn

Manchester-based Co-op Group said its first-half sales increased 10% to £5 billion, driven by a strong food sales performance and the acquisition of Nisa.

Group profit before tax increased to £26 million from £14 million at the same time last year.

Co-op Group also said it will acquire Dimec, a healthcare technology platform.

Co-op Group CEO Steve Murrells said: “Our investment in products, price and distribution channels has seen us grow revenue, profit and member value in the first six months.

“We are also back to responding quickly and decisively to the issues which affect our members and customers.

“Funeral affordability is clearly an issue affecting many and our guarantee not to be beaten on price re-affirms our commitment, as market-leader, to also lead the market.

“Furthermore, our acquisition of Dimec allows us to accelerate the development of our healthcare proposition, and provides the digital platform required to help customers in the future conveniently access and link their healthcare needs, including interacting with their NHS GP.”