The Channel Islands Co-operative Society is financially secure while UK announces losses

| April 17, 2014 | 0 Comments

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.

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Category: Finance & Business

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