April 6, 2018 / 6:17 AM / 16 days ago

BRIEF-Co-Operative Group says profit rises 25 pct in 2017

April 6 (Reuters) - Co-Operative Group Ltd:

* PROFIT BEFORE TAX OF £72M (2016: LOSS £132M), ON STRONG BUSINESS PERFORMANCE, WITH 2016 LOSS REFLECTING WRITE DOWN OF STAKE IN CO-OPERATIVE BANK

* UNDERLYING PROFIT BEFORE TAX OF £65M* (2016: £52M), UP 25% ON IMPROVING BUSINESS PERFORMANCE AND FURTHER REDUCTIONS IN COST BASE

* REVENUES STABLE AT £9.5BN (2016: £9.5BN), IN LINE WITH PLAN

* ‍THIS SIGNIFICANT INVESTMENT IN MEMBERS AND OUR BUSINESS AREAS, CO-OP IS NOT EXPECTING ANY SURPLUS PROFITS BEING AVAILABLE FOR DISTRIBUTION DURING 2018​ Source text for Eikon: Further company coverage: (Reporting By UK Bureau)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below