Midlands Co-op has announced a 5% increase in travel sales to £142 million for the first half of the year.
The growth was reported as the company focuses on consolidation of its business travel arm with the rebranding of Yorks Business Travel Management, which was acquired in 2006, as Forward Travel Management.
The increase in sales has been driven by the decision to bring foreign exchange in-house and put more foreign exchange booths into shops.
Overall, Midlands Co-op has seen a 7% increase in sales to £456 million for its first half year results, while the its net assets are worth £295 million.
Chief executive John Fitzgerald said: “A major challenge facing members of the public and retailers alike is the rising cost of energy.
“That, coupled with a slowdown in consumer confidence has undoubtedly affected high street spending.
“But despite these tough trading conditions, all our business units have once again demonstrated improvements on last year.”