The Co-operative Group reveals £80m earnings hit from ‘malicious’ cyber attack

Yorkshire Post

The Co-operative Group has revealed it slumped to a half-year loss after taking an earnings hit of around £80 million from a “malicious” cyber attack in April.

Transcript

00:00Hello, I'm Greg Wright of the Yorkshire Post.

00:03The co-operative group has revealed it slumped to a half-year loss

00:07after taking an earnings hit of around £80 million

00:11from a malicious cyber attack in April.

00:16It said the attack impacted sales by about £206 million,

00:20which left it with an £80 million blow to earnings,

00:24which also included £20 million of non-underlying one-off costs.

00:29Shoppers were faced with empty shelves and issues with payments

00:33during the fallout from the cyber incident in April,

00:35during a time when many retailers were hit by cyber attacks.

00:40My name's Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post.

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