Co-op swings to H1 loss as it takes hit from cyber attack

(Sharecast News) - The Co-op said on Thursday that it swung to a loss in the first half after taking a hit from a cyber attack in April.

In the six months to 5 July, the group swung to a pre-tax loss of £50m from a profit of £58m in the same period a year earlier, with an £80m hit to operating profit from the incident.

The company reported an underlying loss before tax of £75m, versus a profit of £3m a year earlier.

Total group revenue fell 2.1% to £5.48bn, with the cyber incident knocking around £206m off revenues.

The Co-op said it acted "quickly and decisively" to temporarily shut down a number of systems to contain the threat when it was targeted by the "sophisticated" cyber attack. It expects further but reduced impact from the incident in the second half.

Chair Debbie White said: "The first half of 2025 brought significant challenges, most notably from a malicious cyber attack.

"Our balance sheet strength and the magnificent response of our 53,000 colleagues enabled us to maintain vital services for our members and their communities. We must now build our Co-op back better and stronger to meet the challenges and opportunities that lie ahead."