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  1. ITV Report

CI Co-op members share £8M in dividend

Colin Macleod, C.E.O The Channel Island's Co-operative Society Photo:

Nearly £8 million pounds was returned to members of the Channel Islands' Co-operative Society through dividend last year.

The figure was published in the Co-op's annual report, which was discussed this week at Annual Members’ Meetings in Guernsey and Jersey.

The total turnover figure for the Society in 2016 was £172.05m, which is up 1.96% on the previous year.

Its food business performed particularly well with a 2.6% overall increase in turnover.

However, Travelmaker saw a 4.7% reduction in the amount of cash passing through the business, due to less foreign currency being exchanged.