Co-operative reveals £80m earnings hit from ‘malicious’ cyber attack

The Co-operative Group has agreed to sell its 129-strong petrol forecourt chain to supermarket giant Asda in a deal worth £600 million (Co-op/PA) -

The Co-operative Group has revealed it slumped to a half-year loss after taking an earnings hit of around £80 million from a “malicious” cyber attack in April.

The retailer said it tumbled to a £75 million underlying pre-tax loss for the six months to July 5, down from profits of £3 million a year ago as the hack took its toll.