"The first half of 2025 brought significant challenges, most notably from a malicious cyberattack. 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."
"The cyberattack highlighted many of our strengths. But more importantly, it also highlighted areas we need to focus on - particularly in our food business."
"The cyber incident has offered us a moment to reflect. Whenever a business experiences a significant event like this, the real shame would not be to come out stronger."
A malicious cyber-attack stole data from 6.5 million members and will produce a full-year financial hit of £120 million. Sales were impacted by £206 million in April and the first half earnings took an £80 million hit, with an expected further £40 million hit in the second half. Underlying pre-tax profits for the six months to 5 July slumped by £75 million compared with £3 million profits the year before. Balance sheet strength and the response of 53,000 colleagues maintained vital services. The incident highlighted strengths and exposed areas for improvement, particularly in the food business, and is framed as an opportunity to reflect and emerge stronger.
Read at London Business News | Londonlovesbusiness.com
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