Heart of England Co-operative Society has posted a 4.7% increase in like-for-like food sales for the past year.

The society, which has stores across the Coventry region and Warwickshire, said it planned to continue its store refurbishment programme, which has seen £16.7m invested in refits since 2005.

“There is no question that this country is still in economic turmoil, with government borrowing at its highest and the country in record levels of debt,” said the society’s chief executive Ali Kurji (pictured).

“Here at the society we are pleased to announce we have continued to operate with no borrowings [and] have continued to invest in our ongoing renewal programme.”

He added: “This will continue in 2010 and beyond. The board of directors has already approved a number of upcoming projects.”

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Christmas sales up for Heart of England Co-op (22 January 2010)