Tag: Co-operative Group

NBNK seeks investment for new Lloyds bid

NBNK seeks investment for new Lloyds bid

NBNK Investments Plc is reported to be talking to Middle Eastern sovereign wealth funds with a view to increasing its bid for 632 branches being sold by Lloyds Banking Group. Lloyds has been in exclusive talks with the Co-operative Group over the ‘Project Verde’ business since December, but announced on Friday that these talks had [...]

April 30, 2012 | 0 Comments More
Co-op Bank to buy Lloyds branches

Co-op Bank to buy Lloyds branches

The Co-operative Group has been named preferred bidder for 632 branches being sold by Lloyds Banking Group. The Co-op was in competition with NBNK for the branches which are being sold under European competition rules. It will now enter exclusive talks with Lloyds over the deal, which would expand its branch network to 947, giving [...]

December 14, 2011 | 1 Comment More
Co-op hit by falling food sales

Co-op hit by falling food sales

Co-operative Group has reported a fall in first-half underlying profit to £230.8 million, down from £262.3 million a year earlier. The mutual has been hit by declining food sales in the face of strong competition, reduced government funding for prescriptions and a change in the income recognition policy on the sale of its funeral bonds. [...]

August 25, 2011 | 0 Comments More
Co-operative Group reports record 2010 performance

Co-operative Group reports record 2010 performance

Britain’s largest mutually-owned retailer, the Co-operative Group, has today posted “record” results for the 2010 year. The group said underlying operating profits before significant items surged 48% to £545.7 million compared with £367.9 million the year before. Group sales were 10% higher at £13.7 billion. Earnings at the group have been boosted by its acquisition [...]

March 30, 2011 | 0 Comments More
Thomas Cook and Co-operative travel agents to merge

Thomas Cook and Co-operative travel agents to merge

It has been announced today that high street travel agents, Thomas Cook and the Co-operative Group, are to merge their chain of travel agents. However, the deal will bring “inevitable“ job losses due to overlap within the two companies. The transaction will create a 1,200-branch network and will save more than £35 million a year [...]

October 8, 2010 | 0 Comments More
Co-operative Group gains market share, profits up 17%

Co-operative Group gains market share, profits up 17%

Britain’s largest mutually-owned retailer, the Co-operative Group, has today posted a 17% increase in profits for the six months to 25 July of £228.8 million. The retailer, which is the UK’s fifth largest following its acquisition of Somerfield, said sales of its re-launched and extended ‘Simply Value’ range were up almost 80% on the year. [...]

October 12, 2009 | 0 Comments More