A cyber attack in April delivered an £80m hit to half-year operating profits at the Co-operative Group, it has been revealed.
The results showed an underlying pre-tax loss of £75m over the six months to 5 July compared to a profit of £3m over the same period a year ago.
The £80m figure included a £20m hit from one-off costs. The impact of the attack on sales revenue was estimated at £206m.
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While the mutual had insurance cover for operational disruption, it did not have a policy to meet full losses arising from a cyber incident.
It further revealed that the total profit damage was expected to nudge £120m over its full financial year.
Co-op was among several retailers hit in April, including M&S, and iall its members had data stolen.
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In-store, customers faced problems making payments initially and latterly empty shelves as the group struggled to restore control of key systems.
It prioritised rural stores for limited deliveries until stocks recovered in late May.
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Co-op chair Debbie White said: “The first half of 2025 brought significant challenges, most notably from a malicious cyber attack.
“Our balance sheet strength and the magnificent response of our 53,000 colleagues enabled us to maintain vital services for our members and their communities.
“We must now build our Co-op back better and stronger to meet the challenges and opportunities that lie ahead.”
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The attacks on the retailers, which have resulted in four arrests, have brought the insurance issue to the fore as Jaguar Land Rover battles the impact of a similar attack.
Its factories are currently on track to produce nothing for at least a month and the government is now actively considering some kind of taxpayer support for its vast supply chain.
It has been reported that it was in discussions over cyber cover when its systems came under attack at the end of August.
Like the Co-op, it leaves the company facing the prospect of meeting many of the costs itself.
M&S put a £300m cost on the ransomware attack on its own systems ahead of Easter but expects to claw much of that money back through insurance payouts.
The government has this week described the run of hacking attempts as a further wake up call to the business community and urged continued investment in cyber security.
