Midcounties Co-operative Travel grew sales by 61% to £276 million following new branch acquisitions and increased recruitment of home-based personal travel agents.
This helped parent company The Midcounties Co-operative become the first independent co-operative to achieve annual sales of more than £1 billion.
The UK’s largest independent co-operative society achieved a record 24% increase in gross sales to £1.167 billion in the year to January 25.
Operating profit before ‘significant items’ was up 21% at £22 million.
The society said it achieved sales growth across all its businesses, which include food, energy, funeral, pharmacy, travel and childcare, during a year of “restrained consumer spending and fierce high street and online competition”.
The Warwickshire-based society plans to make more than £6 million in share-of-profit payments to its members and staff.
Chief executive Ben Reid said: “These excellent trading results demonstrate that the co-operative business model really works.
“As part of our co-operative approach we will be returning a share of our profits to the members and colleagues who have directly contributed to the success of the society.”
Five new branches were acquired last year and an outlet was opened in Stafford.
Around 50 new home-based personal travel agents joined last year, taking the total to 101.