The Co-operative Group has announced a record dividend payment of £50 million after posting its highest ever profit in 2009.
The five million members of the Co-operative Group will share in the £50.4 million payout, with an average payment of £9.88 per member.
This is a 30% increase on last year’s dividend payment of £38.8 million.
The group [...]
The UK’s biggest coal producer, UK Coal, has today reported increased losses for the 2009 year due to a fall in production and lower coal prices.
The company said pre-tax losses grew to £129.1 million for the full year, against a loss of £15.6 million the previous year.
Meanwhile, revenues plunged by 20% to £316 million [...]
The World Trade Organisation (WTO) said it expects to see a strong recovery in world trade this year after experiencing the sharpest decline in over seven decades.
According to the WTO, world trade fell by 12.2% last year as the economic crisis resulted in a slump in consumer confidence and dented demand.
The world’s wealthiest economies such [...]
The Co-operative bank saw a 38% growth in bank accounts over the past 12 months.
Despite the recession, the ethical bank reported double digit growth in bank account sales for the third year running.
Current account balances in 2009 were 21% higher than in 2008, the bank said.
The company also reported a “marked increase” in customers transferring [...]
Britain’s largest mutually-owned retailer, the Co-operative Group, has today posted “record sales and profits” for the 2009 year after its acquisition of Somerfield and its merger with the Britannia building society.
The group said underlying operating profits before significant items soared 20% to £473 million over the year, while revenue was £13.7 billion.
Meanwhile, the [...]
In its latest round-up of UK mortgage statistics, the Financial Services Authority has reported a fall in the number of homeowners in arrears.
In the final quarter of 2009, 378,000 households were behind with their monthly repayments (at a level equivalent to 1.5% of their outstanding balances).
The figure is down 4% on the previous quarter [...]