Co-op profits and sales drop as crime levels reach record high
For the 53 weeks ending March 2023, the grocer’s profit before tax fell to £28m down from £268m in 2022, while underlying EBITDA was “broadly flat” at £468m down from £473m reported at the same time last year.
Group sales decreased to £11.3bn as compared to £11.5bn in 2022, but increased £500m when excluding the impact of its petrol forecourt sale.
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