BGN Entrepreneur

The Co-operative Group has announced a 17% rise in interim profits to £228.8 million. The company said that it will focus on integration in the second half, following the additions of ssupermarket Somerfield and Building society Britannia. But chief ecutive Peter Marks sounded a note of caution, indicating it is naive to think the group is immune to the recession despite its current success.
The group experienced a period of ‘extensive expansion and acquisition’ after the deals to buy Somerfield for £1.6 billion in Febuary and to merge its financial services arm with Britannia in August.
The addition of Somerfielld meant Co-op’s food division racked up sales of £165.5 million up to July 25th.

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