At the half yearly meeting on 24th September 2010, the directors submitted a report to the members for the 26 weeks ending 10 July 2010.  This page is a summary of this report; for the full directors report, please contact the Secretary.

Click here to see the report presented to the meeting (8MB PDF)

In brief, the meeting:

• Approved the Directors Report
• Agreed a dividend rate of 1.5%
• Approved Directors Remuneration

David Robinson and Mitchell Smith were re-elected as board members. Ivan Jones was thanked for his long service as a board member at both Penrith and Stanhope and Weardale Societies.

Turnover

Cash sales, excluding VAT, for the period to 10 July 2010 were £8,479,741, an increase of £872,779 (ie 11.4%) over the corresponding period a year ago.

Membership

During the period, 199 Members joined the Society and current membership stands at 25,005.

Developments

The homeSTORE opened in Keswick in July to offer our Keswick members an opportunity to shop locally for non-food and larger items such as washing machines, furniture and beds.

A new Electronic Point of Sale (EPOS) system is being rolled out to our stores this Autumn, ie replacing our store tills. In 2011 we expect our dividend scheme to move to a card data recording system.