Co-op has released its financial results for the first half of 2025, revealing a 2.1% drop in revenue from the same period in 2024.
The UK supermarket’s results for the six months ended 5th July 2025 show that group revenue reduced by 2.1% from the same period last year, from £5,603m in H1 2024 to £5,484 million this year. Food revenue for the period was £3,620 million, down 1.6% from 2024. Co-op reported that food revenue was estimated to be up 2.9% on 2024 excluding the impact of the significant cyber attack.
Co-op said the H1 cyber attack had a -£206 million estimated margin impact on group revenue and a -£60 million estimated margin impact on group operating profit and cash, stating that it “acted quickly and decisively” to shut down a number of systems to contain the threat, which led to “operational disruption” in H1 and a reduced impact expected in H2.
Co-op reported an operating loss of -£56 million for the period, down by £91 million from H1 2024, when it posted a £35 million operating profit. Net debt over the period was £43m, which the retailer stated had reduced from nearly £1 billion in 2021.
Shirine Khoury-Haq, Co-op chief executive, commented: “Over the past three years, we’ve built a stronger and more resilient Co-op – one that’s better able to navigate the headwinds that all businesses are facing.
“When we experienced a significant cyber attack, that financial strength allowed us to respond as a member-owned organisation. I’m very proud of how we reacted: we kept trading, prioritised colleagues and vulnerable communities, and launched a partnership with The Hacking Games to tackle youth disenfranchisement – the root of many cyber threats.
“The cyber attack highlighted many of our strengths. But more importantly, it also highlighted areas we need to focus on - particularly in our Food business. We’ve already started on this journey, refining our member and customer proposition, making structural changes to our business, and setting our Co-op up for long-term success.”
“We must now build our Co-op back better and stronger to meet the challenges and opportunities that lie ahead.”
Debbie White, Co-op chair
Responding to the results, Co-op chair Debbie White added: “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.”
Outlook
Co-op said that it anticipates continued cost headwinds, global volatility and high competition, and said that in response it remains committed to a “disciplined approach to investment” with future planning being “stepped up” across all business areas, including:
- 30 planned store openings in H2, including Food stores and franchise formats.
- Accelerating work to refine its grocery convenience offer in the second half of the year.
- Launching new ranges, including Served – ready-to-cook meals.
- Continuing to open ‘On The Go’ microstores with deli options and hot food.
The retailer reported that it plans to build on the £131 million invested in H1 2025 and to “evolve in line with changing shopping habits”.
