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Co-Operative Group Ltd (42TE.L)

42TE.L on London Stock Exchange

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16 Apr 2019
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Latest Key Developments (Source: Significant Developments)

Co-Op Group Reports FY Total Revenue Growth of 14 Pct To 10.2 Bln Stg
Friday, 5 Apr 2019 02:00am EDT 

April 5 (Reuters) - Co-Operative Group Ltd <42TE.L>::CO-OP GROUP LD - ANNUAL FINANCIAL RESULTS.CO-OPERATIVE GROUP LTD - FY TOTAL REVENUES GREW BY 14% TO £10.2BN, DRIVEN BY OUR ACQUISITION OF NISA AND A STRONG PERFORMANCE FROM FOOD.CO-OPERATIVE GROUP LTD -FY LIKE-FOR-LIKE REVENUES CONTINUED TO GROW IN FOOD (+4.4%).CO-OPERATIVE GROUP LTD - FY PROFIT BEFORE TAX FROM CONTINUING OPERATIONS WAS UP 27% TO £93M.CO-OPERATIVE GROUP LTD - FY PROFITABILITY EXCEEDED EXPECTATIONS, REFLECTING GROWTH IN OVERALL REVENUES.CO-OPERATIVE GROUP LTD - FY CAPITAL EXPENDITURE OF £414M.CO-OPERATIVE GROUP LTD - FY NET DEBT ROSE DUE TO NISA ACQUISITION, BUT REMAINED BELOW OUR £900M DEBT CEILING TARGET.CO-OPERATIVE GROUP LTD - FY SURPLUS ON PENSION SCHEMES INCREASED BY £300M TO £1.8BN (2017: £1.5BN).CO-OPERATIVE GROUP - NO DOUBT 2019 TO BE CHALLENGING WITH BREXIT UNCERTAINTY, INTENSE COMPETITION IN FOOD RETAIL & RAPIDLY CHANGING FUNERALS MARKET.CO-OPERATIVE GROUP LTD - WORKED CLOSELY WITH CMA ON THEIR MARKET STUDY INTO FUNERAL SERVICES.CO-OPERATIVE GROUP LTD - BREXIT IS LIKELY TO CAUSE US SOME UNCERTAINTY IN 2019 AND WE CONTINUE TO PLAN FOR THE VARIOUS SCENARIOS.CO-OP GROUP - A £450M TRANCHE OF OUR EUROBOND EXPIRES IN JULY 2020, OUR INTENTION WAS TO PARTIALLY RE-FINANCE THIS BOND.CO-OP - ON-GOING UNCERTAINTIES AROUND BREXIT HAS MEANT WE HAVE NOT BEEN ABLE TO ACCESS CAPITAL MARKETS TO ISSUE A BOND AT A COMFORTABLE PRICING LEVEL.  Full Article

Britain's Co-Operative Group Bank Reports Q3 Operating Profit Of 14.3 mln stg
Tuesday, 6 Nov 2018 02:00am EST 

Nov 6 (Reuters) - Co-Operative Group Ltd <42TE.L>::BANK HAS MADE PROGRESS AND IS REPORTING A MODEST OPERATING PROFIT OF £14.3M.THIS IMPROVEMENT HAS BEEN ENABLED BY A 14% REDUCTION IN OPERATING EXPENDITURE.BANK IS REPORTING A LOSS BEFORE TAX OF £87.0M AT END OF Q3,.BANK REMAINS WELL CAPITALISED WITH A COMMON EQUITY TIER 1 RATIO (CET1 RATIO) OF 22.7.A KEY ACHIEVEMENT FOR BANK IN 2018 WAS SUCCESSFUL SECTIONALISATION OF PACE PENSION SCHEME..  Full Article

Co-Op Group exploring sale of its general insurance operations for about 300 mln stg - Sky News
Wednesday, 1 Aug 2018 06:10am EDT 

Aug 1 (Reuters) - :CO-OP GROUP IS EXPLORING THE SALE OF ITS GENERAL INSURANCE OPERATIONS FOR ABOUT 300 MILLION STG - SKY NEWS.  Full Article

UK's CMA Says Not To Probe Co-Op Group-Nisa Retail Deal Further
Monday, 23 Apr 2018 06:05am EDT 

April 23 (Reuters) - UK'S COMPETITION AND MARKETS AUTHORITY:UK'S CMA SAYS HAS DECIDED NOT TO REFER ANITCIPATED ACQUISTION BY CO-OPERATIVE GROUP OF NISA RETAIL LTD TO A PHASE 2 INVESTIGATION.  Full Article

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Britain's Co-op stops kitchen knife sales as stabbings rise

Britain's sixth largest supermarket operator Co-operative Group was the latest chain on Friday to say it had stopped selling single kitchen knives in response to a wave of fatal stabbings.

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