Managers' Conference - Team Talk

Childcare• With the acquisition of a number of nursery chains we now operate 49 nurseries – making us the seventh largest childcare provider inthe UK (by number of child places)• Childcare sales have grown by 39.7% to £10.0 million from £7.2 million last year• The business has also welcomed a team of Little Pioneers – five mascots that each has a story relating to the Rochdale Pioneers orother leading co-operative figuresFuneral• We have introduced a webcam at our Banbury funeral home to allow family members to view a funeral even if they cannot attendin person• Our recently launched Co-operative Memorials facility in Walsall hosted an open day in March, to showcase our skilled craftsmenat work• To promote the masonry business the team is creating a set of short films to show the journey from the initial contact with the siteto the fixing of the memorialEmployee Benefits• Employee Benefits sales have grown by 4.2% compared with last year to £16.4 million• Our Employee Benefits business now offers nine benefits with the introduction of a new health and wellbeing benefit• The team has set up a payroll giving scheme which supports employers by offering a salary sacrifice scheme for colleagues wishing todonate money to charity on a regular basisPost Offices• Post Offices sales at £1.7 million are down on last year as a result of a reduction in the number of offices following the disposal of theNews Express stores last autumn• Despite the slight fall in profitability compared with 2011 the remaining estate of 74 offices continues to achieve good profit levels• We have been working to ensure that all sites have the equipment and facilities they need to do their job effectivelyGross sales£m50040030020010004363793873753882008 2009 2010 2011 2012Operating Profit before Significant Items*£m1211.710.3 10.41088.07.564202008 2009 2010 2011 2012Net assets£m200180173 1721701651501005002008 2009 2010 2011 2012*Operating profit before significant items in 2008, 2009 and 2010 is calculated as trading profit as per the half year report for each year adjusted for the Co-operative Group corporate dividend receivedTeam Talk 17