David Sands c-stores bought by Co-op in good shape

Trading at David Sands was robust in the months before it was acquired by The Co-operative Group, accounts have revealed.

Pre-tax profits at the Scottish c-store chain rose 6.9% to £1.7m in the year to 31 December 2011, on sales up 0.9% to £41.4m, according to accounts made available at Companies House.

David Sands, which had 28 c-stores in Fife and Perthshire, was bought by the Co-op Group for an undisclosed sum in November last year. The deal has received clearance from the Office of Fair Trading and is expected to legally complete in a few weeks.

“The directors believe the acquisition of the business by the Co-op offers a fantastic opportunity for continued investment in our stores and people, and a continued commitment to Scottish local communities, local produce and local suppliers,” said the directors in the accounts.

They also admitted that “competitive pressure” had increased in the sector as the major multiples continued to grow their estates. “This may affect individual store locations and it makes finding the right sites for future growth difficult,” they wrote.