The Co-op Group has announced record financial results for 2009.

The Co-operative Group has announced record 2009 annual financial results, with sales up 31% and a 38% growth in new customer bank accounts.

The year saw the group acquire supermarket chain Somerfield to become the fifth largest retailer in the UK, with each of its 3,000 food stores in every postcode in the UK bar one, serving a total of 21 million customers. Overall like-for-like food sales were up 5.5% compared with the previous year.

The financial services arm of the group also merged with Britannia Building Society to become the UK’s first ‘super mutual’, the most diversified in the country.

Peter Marks, Co-op Group Chief Executive, said: “Whilst we have expanded and evolved as an organisation, we have stayed true to our core principles and we continue to do what we do best: serving customers with excellent products and services, and bringing solid values and trust to the communities in which we operate.

“Looking ahead, we expect the economic pressures to continue until the end of this year or the first half of 2011. Sustaining the level of success we have enjoyed over recent years will not be easy. All of our businesses are operating in fiercely competitive markets which will only get tougher, so we will be redoubling our efforts to help our customers by providing even greater value and service.”

Continually building on its ethical and community work, around £6.7 million was raised for charity by the group, and £11.3m invested into local communities. It was also awarded ‘Responsible Retailer of the Year’ by the Oracle Retail Week Awards – for the third year running.

The group is unique in that it is a consumer cooperative, whose four million members are involved in democratic decision-making and who share the group’s profits. Anyone can become a member for just £1, and then benefit from offers and be rewarded twice a year depending on how much they spend with the group and how much the business has made.

The Co-operative Group covers many different business areas, from bank services to travel to funeral care. For more information, visit: http://www.co-operative.coop/ ^[1]