Co-operative Group has suggested that costs in connection with  the Rebuild plan and its pension scheme will dent year end profits.

The food company is in a state of restructuring following the almost collapse two years ago, but has returned to profitability during the half year to 4 July.

Nevertheless full-year results would feel the impact of rising corporate costs.  The Co-op stated that the Rebuild was in line with expectations.

The Co-op said investment in its convenience offering was reaping rewards, with 35 new stores opening during the half year with and a total of 116 stores being refurbished.  This has enabled a 6{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34} rise in revenue.

Its Funeralcare division had the busiest start to a year since 2008, up by almost 12{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34}.

The Group’s insurance division has also returned to profit.



Source: Sky News