Asda profits tumble as Covid costs bite
Asda has suffered a drop in full-year profits as costs incurred during the coronavirus crisis weighed on its bottom line.
In documents filed at Companies House, Asda said operating profit tumbled 16.7% to £486.5m in the year to December 31, 2020.
Asda blamed the decline on a tranche of Covid-related costs, including hiring 22,000 temporary colleagues to cover staff absence, shielding 15,000 vulnerable colleagues on full pay and delivering 2.6 million online orders to shielding customers free of charge.
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