OXON: Bosses at Midcounties Co-operative are celebrating record profits.

Trading profit at the group, which has its head office in Botley Road, Oxford, rose 19 per cent to £19.3m for the year to January 23.

Chief executive Ben Reid said: “We believe the improved performance is directly related to the shift in the public’s view of organisations like co-operatives, whose business model is based on mutuality.

“Trust in so many organisations has been eroded over the last 12 months and there is a clear desire to support those which have not disappointed.”

The society, which employs 1,900 people in the county, has distributed £2.1m between members as a share of the profits.