Groups reports £100m profit for 2021 as it faced disruption to supply chain and higher wages
The Co-op Group has warned of continuing problems with food supplies and inflation after revealing that profits more than halved last year amid supply chain disruption and higher staff wages.
The mutual said underlying profit for 2021, stripping out a one-off £99m gain relating to the sale of the Co-operative Bank in 2017, was down 57% to £100m, compared with the year before, and that sales slipped to £11.2bn, from £11.5bn.
