September 12, 2019 / 6:22 AM / a month ago

Britain's Co-op posts lower profit, flags Brexit risks

Sept 12 (Reuters) - Britain’s Co-Operative Group, the mutually-owned supermarkets-to-funerals group, reported lower first-half profit on Thursday, as weakness in its funeral unit offset a strong performance in its food business.

Co-op, the country’s sixth largest supermarket operator, said pretax profit fell to 25 million pounds ($30.81 million) in the 26 weeks to July 6 from 44 million pounds in the same period last year.

The company said it had “sensitised” its forecasts to include pessimistic views on risks such as a hit from Brexit. ($1 = 0.8115 pounds) (Reporting by Noor Zainab Hussain in Bengaluru; editing by Arun Koyyur)

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