Scotmid Marks Anniversary with 16per Cent Earnings Increase

The Herald (September 30, 2009)

Author: Simon Bain

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Summary

SCOTLAND'S biggest independent co-operative Scotmid, celebrating its 150th anniversary, has reported a healthy underlying performance for the first half of the year, with profits on continuing businesses up 16per cent from GBP3.98m to GBP4.62m.

Scotmid sold wholesaler M&S Toiletries to Search UK in a well- timed deal a year ago, but its retail discount chain Semichem is continuing to open new stores in north-east England within reach of its Livingston supply depot.

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Extract

Scotmid Marks Anniversary with 16per Cent Earnings Increase

The convenience store business, in fierce competition with the major supermarket groups, racked up "encouraging" lik...

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