Co-op profits quadruple but warns of rising costs

Co-op has reported a fourfold increase in profits but warned it faces more than £200m of new headwind and investment costs in the upcoming year.
The convenience store chain said part of the new costs relate to its active choices to support members, colleagues and communities with cost-of-living challenges.
It comes has the retailer reported its pre-tax profits had skyrocketed from £28m to £161m in the year to 4 January, despite group sales remaining flat at £11.3bn.
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