UK supermarket group The Co-operative Group has today reported a first half loss and warned the British supply chain disruption would put pressure on full year profit.
The group is owned by its members and also provides funeral and other services.
It said it made an underlying operating loss before tax of £15m for the 26 weeks to July 3, compared to a profit of £56m the same time last year.
The Co-op said the shortfall reflected planned investment in staff and the business, as well as significant costs, impacts on sales and profit erosion related to product availability issues and the ongoing effects of the Covid-pandemic.
Revenue fell 3.2% to £5.6 billion.
"The unplanned supply chain challenges and ongoing Covid costs will bring greater levels of uncertainty. This will in turn apply pressure on our prior expected level of profitability for year end," the group said.
