Co-op pays bonuses after profits soar but keeps £66m of Covid cash

www.dailymail.co.uk
2 min read
standard
Co-op chief exec Steve Murrells (pictured) confirmed that payouts to him and other executives will be announced in the annual report. In 2020 profits rose from £24m to £127m
Co-op chief exec Steve Murrells and other company bosses will enjoy bonuses this year

The Co-op will pay bonuses to top bosses despite holding on to £66million of taxpayers' cash amidst a five-fold rise in profits.

The supermarket chain's chief executive Steve Murrells confirmed that payouts to him and other executives will be announced in the annual report in the coming weeks. This is despite the group announcing it will only repay a fifth of the Government support it received in the pandemic. In 2020 sales jumped 5.5 per cent to £11.5billion.

This helped profits to rise from £24million to £127million, securing The Co-op's position as a pandemic…
Tom Witherow, By Tom Witherow For The Daily Mail
Read full article