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Insider UK
Insider UK
Business
Peter A Walker

Profits down at Scotmid as trading hit by cost-of-living crisis

The Scotmid Co-op Society has reported a £1.1m trading profit for the 26 weeks ended 30 July, £1.9m down on the interim result last year.

The half-year update also showed turnover down by £4.8m to £204.2m, although by this summer there was a "robust balance sheet" with net assets of £113m.

The retail group has taken steps to minimise the impact of the cost-of-living crisis, after a series of "major challenges" affected trading during the first half of 2022.

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