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The government is in a desperate race to try and refloat the UK economy before we see a major collapse in the UK employment market. A recent flurry of announcements from various recruitment...
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Thursday 26th June 2008
While the Co-operative Group, and the movement which it represents, has often been the butt of jokes in industry for its cautious approach to business it seems as though the joke is on the Co-op’s competitors. The Group has today reported a 35% increase in profits to £322.7 million for the year ended 12th January 2008, one of the better results of late.
The Group is also increasing the famous ‘divi’ payments by nearly 100% as the vast number of Co-operative Group customers look to benefit from a record year. While the make up and leadership of the movement may have changed, now consisting of shops, travel agents, funeral services and banking operations, the cautious approach has remained intact. Those who have come across the Co-operative Group before will be aware that it is a fairly low key operation which is averse to overly risky ventures and situations.
On reflection we may not be in the current situation if more of the UK’s leading companies had been as risk averse as the Co-operative Group. It is common knowledge that the pursuit of extra profit and new customers had seen a number of the worlds largest banks take on clients who were ultimately too much of a risk. |
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