THE Channel Islands Co-operative Society has reassured members that it remains in a strong financial position, despite its UK counterpart announcing losses today.
The Society has no financial ties with the UK Co-operative and its assets are locally owned and secure.
A strong performance during 2013 means that the Society, which will be celebrating 60 years of trading within the Channel Islands next year, will recommend a dividend pay out to members of 4% at its AGMs in Jersey and Guernsey next month.
In Jersey on 13 May and in Guernsey on 14 May, the Society will confirm that its finances are in a strong position, allowing continued investment in new developments and the refurbishment of the Society estate.
This ensures that The Co-operative can continue to provide an excellent shopping experience, supported by good value for money, a first class service and a share of profits in the form of dividend.
The Society, which is a consumer co-operative, is locally owned by its members and headed up by a local board of directors.
Category: Finance & Business