East of England Co-op returns to profit

East of England Co-op returns to profit
The East of England Co-op has returned to profit after a year of investment and reshaping of its business portfolio. The regional co-operative made a trading profit on continuing operations of £1 million, recovering from a loss of £3.6m the year before. However, its revenue slipped from £393.3m to £384.2m over the 12 months to 25 January 2025, following several planned business disposals.
Andy Rigby, Chief Executive Officer for the East of England Co-op, said, “We’re proud to be announcing a return to profit this year. This is an ambition we’ve been working towards for the past three years, so it’s a moment for us to celebrate as we mark the start of an exciting period of growth. "The next challenge for us is ensuring this profit is sustainable for our co-op and the colleagues, members and community that make us.” Addressing the challenging economic landscape, he commented, “Rising costs are still having an impact on businesses and communities in our region and across the country.
"We are continuing to feel the impact of this challenging financial situation.
"Our return to profit is a monumental achievement in the current financial landscape, but we’re realistic that it’s a challenge we’ll continue to face as we make our return to profit sustainable.”
Highlighting the retailer’s continued growth, Rigby said, “For the second year running we’ve grown our business into new territories, with our family of businesses now operating across five counties for the first time in our 155-year history.
"Following the successful expansion of our Food business into Cambridgeshire in 2023, we opened our first Hertfordshire Food store in Bishop’s Stortford this summer.