Co-op hails a return to profit after cutting ties with troubled banking arm that dragged it down



The Co-operative Group has marked a return to profits following the split from its troubled banking arm last year.
The group has turned around its fortunes since being hit by problems in the Co Operative Bank, with pre-tax profit in 2017 rising to £72 million, reversing a £132 million loss the year before.
It severed ties with the troubled Co-op bank in order to protect the pensions of those working for the wider group, and it is now controlled by hedge funds.
Chief executive Steve Murrells said the group had made progress over the last year. 
'All our businesses have performed well and we... read more

 
6 April 2018 in Business, Views: 46
Source: Daily Mail
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