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Investing.com -- Britain’s Co-op Group reported a first-half loss of £75 million ($108 million) before tax, compared to a profit of £3 million in the same period last year, primarily due to a cyberattack in April.
The 181-year-old company said on Thursday that the cyberattack cost it £80 million in operating profit during the six months ending July 5.
Co-op Group, which operates businesses in food retail, funeral care, legal services, and insurance, attributed the significant financial impact directly to the disruption caused by the security breach.
The April cyberattack represents the latest in a series of high-profile security incidents affecting major British businesses in recent years.
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