Scotmid Co-op has recorded at trading profit of £2.5m for the 26 weeks ended 27 July, up 8% on the equivalent period last year.
The society, which celebrates its 160th anniversary on 4 November, said its turnover was up £3m to £190m, and reported a “strong balance sheet with assets of £104.5m”.
It said its food convenience business has performed strongly despite the cooler summer weather.
Chief executive John Brodie said: “We’re pleased to announce another strong half year performance – achieved in the face of challenging cost pressures and the uncertainty surrounding Brexit.
“Food convenience and property were the main drivers of growth. The performance of our food stores was particularly encouraging with the continued work on our ‘famous for food’ strategy helping to drive growth in a summer period which did not compare with the record breaking summer the previous year. Our property business benefitted from new lettings and rental income growth.
“In the face of the significant market challenges for non-food retailers, Semichem held its position assisted by successful cost control. Funerals conducted were down compared to a very strong result at the interim stage last year, reflecting the cyclical pattern of this business.”
He added: “Scotmid has been serving our communities for 160 years and in recent times this has been demonstrated by a range of community support including the Community Grant scheme, Community Connect and funds raised for our charity partners.
“A few weeks ago saw the conclusion of our charity partnership with the Scottish SPCA, RSPCA and USPCA with the magnificent sum of £325,000 being raised to help fund the education of primary schoolchildren about animal welfare.”
Mr Brodie said innovation, effective investment and cost control remain important to the co-op’s “ journey of continuous improvement”.
He added: “At the interim stage, the society has performed strongly despite less favourable weather and the delay and ongoing uncertainty surrounding Brexit.
“The position on Brexit remains unclear and the possibility of a no deal makes it hard to predict the impact on the society’s second half performance. The society will therefore continue to focus on matters within our control and celebrate the success of Scotmid’s 160 years of serving our communities and improving people’s everyday lives.”
