Today, we published our 2023 Annual Report which details Co-op’s performance over 2023. This is the main update each year that we produce for our member-owners on how the business they own has performed. We could not have achieved these positive results without the hard work of every single colleague in our Co-op.
Our results show that we have further strengthened our financial position which has allowed us to continue to invest in supporting our colleagues, member-owners and communities during the cost of living crisis. Co-op is now in a far stronger position to grow and to deliver our new Group strategy and Vision.
Shirine Khoury-Haq, Chief Executive of the Co-op, said:
I’d like to thank all our exceptional colleagues, who have been instrumental in our success over the last year.
Our relentless focus on strengthening our financial position has enabled us to navigate a highly turbulent external landscape, delivering increased value for our member-owners and planning for a future with confidence and with membership firmly back at the heart of our business. Over the last two years, our net-debt has reduced by 90% from over £900 million, to £82 million today. Whilst markets remain challenging, we are in firmly in control of our Co-op and our destiny.
You can read more detail about the results here
We also encourage you to take a look at our Co-operate Report which shows how Co-op is performing against those issues which our member-owners care about, through our work within communities, to our pioneering campaigning, and ongoing sustainability programme.
