The Midcounties Co-operative has posted a 34 per cent increase in trading profit to a record £16 million for the first half of the year.
The member-owned retailer - based in Walsall - saw sales increase in its food stores, pharmacies, travel branches, funeral and childcare businesses.
Chief executive Ben Reid put the success down to the Society’s long term investment policy and a growing desire by the public to support responsible retailers.
“I believe more people are reassessing their spending habits and placing greater emphasis on the ethical values of service providers. This means our customers are realising the importance of the co-operative way of doing business,” he said.
“We are passionate about maintaining and developing our co-operative values, despite the challenging economic conditions, and this is resonating with the general public. This is reflected in our 6.1 per cent increase in sales,” he said.
The latest figures for the 26 weeks to 24 July 2010 showed trading profit up 34 per cent to £16.1m, gross sales of £375m while the average weekly number of customers visiting its food stores rose to 1.7m.