Co-op profits climb driven by cost-saving efforts

Co-op employee in grocery section, shown from behind

The Co-op has reported “robust” sales performance as it swung to an operating profit driven by cost savings during the period.

For the 26 weeks to July 1, 2023, the grocer reported a £0.2bn decrease in revenues to £5.4bn, while underlying EBITDA was up £27m to £226m.

Underlying operating profit at the Co-op during the period was also up £44m to reach £43m, up from a loss of £1m during the same period in 2022.

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