UK’s Co-op first-half profit tanks 84% on supply-chain snags, high costs By Reuters

(Reuters) – Britain’s Co-operative Group reported a sharp drop in its interim profits on Thursday, as it continued to face supply chain snags and higher costs amid rising inflation.

The supermarkets-to-funerals provider posted an 84% slump in its first-half profit before tax to 7 million pounds ($7.54 million).

($1 = 0.9282 pounds)

(This story refiles to add dropped word “provider” in paragraph 2)