Weathering the storms

Scotmid boss still positive about future

Scotmid is pledging to support consumers throughout the economic crisis.

BOSS John Brodie says Scotmid Co-op intends to continue serving its communities and improving people’s everyday lives despite the impact of the cost-of-living crisis.

The chief executive was speaking after the society delivered a £1.1 million trading profit for the 26 weeks to 30 July.

That was down £1.9m on the interim result last year, which had been boosted by local shopping from the pandemic.

The group’s turnover was £200.4m, down 2.3% on the equivalent period last year.

But Brodie highlighted the wide range of financial and other support that the organisation had provided to local community groups and charity.

He said: “I am proud of Scotmid’s members, colleagues and customers who have risen to the challenge in difficult times to raise £375,000 for CHAS, Jigsaw, Northern Ireland Children’s Hospice and St Oswald’s Hospice during an extended charity partnership.”

Brodie also outlined the steps Scotmid was taking to invest for the long term and minimise the impact of the economic crisis.

This included the continued rollout of electronic shelf edge labels across the entire store estate and further investment in environmentally friendly refitting, such as more efficient fridges, as well as looking for new shop opportunities.

Brodie also stressed that Scotmid was working hard to provide its customers with excellent value through its range of products and will continue to do so in the coming months.

Brodie said: “Our result was expected to be down compared with the 2021 interim result, which had the benefit of local food shopping during the pandemic.

“The main feature of these results is the cost-of-living crisis and the rising cost burden on our business.

“We have responded proactively by bearing down on controllable cost areas, maximising sales opportunities and investing for the long term, underpinned by a strong balance sheet.”