Scotmid Co-operative has reported a trading profit of £4.3 million and a turnover increase of £4.5 million to reach £429.4 million for the year ending 25 January 2025. The mutual also closed the year with record net assets of £127.2 million, strengthening its balance sheet despite continued market volatility.
Chief executive Karen Scott praised the group’s performance, stating:
“Despite a challenging landscape for retail, we have not wavered in our commitment to invest in our stores and to introduce new technology, products and services that meet the shifting needs of our customers.”
The past year saw the acquisition of Fosters Funeral Directors, expanding Scotmid’s funeral portfolio to over 40 locations, and continued investment across its retail divisions, including store refurbishments and self-scan technology.
Although high street brand Semichem faced reduced footfall and low consumer confidence, strong festive sales – particularly in fragrance – provided a seasonal uplift. Scotmid’s property division also delivered a solid performance, supported by favourable lease renewals and rent reviews.
Scott added:
“These financial results demonstrate a robust trading performance by the society, despite the undercurrent of economic uncertainty.”
While energy prices and inflation showed signs of easing, Scotmid flagged ongoing pressure from the cost-of-living crisis, wage increases, and global instability as persistent challenges for the sector.
