CI Coop to offer 2% dividend to members

The business has returned to profitability this year

The Channel Islands Co-operative Society has returned to profitability according to its annual report and will be offering a 2% dividend to members.

It reported a net surplus of £800,000, a significant recovery from the previous year's £1.8m loss.

"In a volatile market, we've stayed focused on enhancing performance and increasing value for our members," said chairman Jon Bond.

Key financial highlights include a turnover of £211.2m, up 1.3%, with a 2% profit share being proposed by the board.

'Real progress'

CEO Mark Cox said 2024 had been a year of "real progress".

"We've returned to surplus, welcomed new members, and made impactful investments," he said.

"Our investment in engaging with members has shaped a more positive future.

"Over 80% of all sales now come from our members, making us a leading consumer co-operative in the UK."

The report also showcased CI Coop's community impact, including redistributing over 81,000 meals, donating £328,000 to local causes, and spending £7.9m with local suppliers.

'Innovations and improvements'

Mr Bond said the board were "delighted" to recommend a 2% dividend, subject to members approval, at its annual members meeting in May.

The CEO said the business was owned by its members, adding "everything we do is for their benefit".

"With member pricing, we are giving back at the checkout—every day," he said.

"More exciting innovations and improvements are coming in 2025 as we modernise our member rewards proposition, deepen our impact in the community, and strengthen the value we offer to every member, every colleague, and the islands we call home."