By Scott Reid
Copyright scotsman
Scotmid, the Scottish co-operative business with trading roots stretching back more than 160 years, has reported resilient half-year results despite facing one of the most challenging trading periods in recent times. The group generated a slender trading profit of £112,000 for the 26 weeks to July 26 despite the tough economic backdrop and significant external disruption to its supply chain as a result of May’s cyber-attack on the Co-op Group, where some of its products are sourced. That figure compares with a trading profit of £2.1 million for the comparable period last year. Turnover for the first half of 2025 came in at £213m, which was roughly in line with 2024’s first-half result. The society has been at the heart of Scottish communities since 1859. These days its businesses encompass Scotmid Co-operative, operating hundreds of local convenience stores, Lakes & Dales Co-operative, Semichem, its funeral division, post offices and property investment. The Edinburgh-headquartered group employs almost 3,500 people in Scotland, Northern Ireland and the north of England. Bosses said that while the summer weather had been favourable, the timing of the Co-op cyber-attack limited the society’s ability to fully capitalise on seasonal trading opportunities. The group highlighted the strength of its balance sheet, with net assets increasing to £125.4m – up by £3.8m from July 2024. It said it remained “firmly committed to growth, innovation and modernisation”. Ongoing capital investment programmes include store refits, a new branch opening in Fountainbridge in Edinburgh, infrastructure upgrades and the rollout of technology, such as self-scan checkouts. The society said it had also prioritised investment in its expanded funeral division, in particular with enhancements to care centre facilities. Chief executive Karen Scott said: “This was a half-year like no other. While none of our systems or data were compromised, our supply chain was heavily impacted by the Co-op Group cyber incident. Our teams pulled together brilliantly – we acted fast, found local solutions, and kept our focus. “Stores continued to trade, systems were safeguarded, and our commitment to members and communities never wavered. That resilience is something I’m incredibly proud of.” The food convenience division bore the brunt of the disruption. However, solid performances from Scotmid’s property and funeral businesses helped offset some of the retail volatility. The property business continued to benefit from long-term strategic investment, while the funeral division remained “stable” despite market-wide shifts in demand. Scott, who took over from long-standing boss John Brodie last year, added: “Retail conditions remain tough and cost pressures are real – but we’re in a strong position to move forward. We continue to invest in our stores, our people and our communities. “We remain committed to supporting local good causes through our Members’ Choice Awards and are proud to have raised £288,000 for our charity partner Maggie’s.” Scotmid is structured as a co-operative society, owned by its members, who each have an equal say in how it is run. Its core purpose is to serve local communities and “improve people’s everyday lives”.
