Profits were slashed by £37m at the Co-op during the first six months of its financial year as its sales flatlined, new figures have revealed.
The group has posted pre-tax profits of £7m for the period to July 2, 2022, compared to the £44m it achieved during the same time in 2021. It also reported its revenue stalled at £5.6bn.
The results come after the Co-op announced in July plans to cut 400 jobs, with the majority based at its head office in Manchester.
