With news that Co-operative Legal Services (CLS) has posted a £3.4m loss in the for first half of 2013, the group’s recently installed general counsel Alistair Asher says the business is still in its infancy and will flourish, provided it has the appropriate levels of investment. The loss comes despite turnover in the Co-op’s legal arm growing by 5.8% on last year to £18.1m.
GC to the board of The Co-operative Group, Asher said: ‘The top line is growing so the bottom line will improve. CLS is still a start-up business so it is not a case of turning anything around, it’s actually about developing the business and moving forward. CLS is one of the biggest business opportunities for The Co-operative Group right now. We have got the business model we need, we just need to give it support and investment so it can grow.’
