During the first 6 months of 2014, the Co-Op has cited profits of £12m, a significant improvement following its poor performance the previous year.
The group posted its worst ever financial performance last year, incurring losses of £767m for the first half of the year and an annual loss of £2.3bn.
It is understood that the Co-op Group has commenced the implementation of a three-year plan to turnaround fortunes.
Source: Insolvency News