Scotmid has announced that its long-serving chief executive John Brodie is retiring next year as it posted a £400,000 rise in trading profits to £1.5 million for the 26 weeks to the end of July.

The Edinburgh-based co-operative retail, funerals and property empire said it hopes to announce a successor to Mr Brodie soon, but he will stay in post until his departure date next summer.

It said its improved results were achieved despite costs continuing to increase, high inflation, and the cost-of-living crisis hampering household income and discretionary spend.

The society, which operates throughout Scotland, the North of England and Northern Ireland, with more than 3,500 staff, added that it undertook further retail upgrades and refurbishment works in the period.

Scotmid operates 187 food stores, 63 Semichems, 16 funeral homes and an “extensive” property portfolio.

Mr Brodie chairs the Scottish Retail Consortium (SRC) whose director David Lonsdale said: “John Brodie MBE is a towering figure in Scottish retail.

“He has made an enormous contribution to the industry and to the Scottish Retail Consortium as a board member and for the past five and a half years as chair, through some of the most turbulent and challenging of times with the pandemic and costs crunch. He will remain as chair until next Spring and we hope to unveil his successor soon.”