Co-operative Legal Services posted an underlying operating loss of £9.1m on a flat turnover of £33m in 2013, the Co-operative Group’s results reveal today.
The legal subsidiary also said it had taken a £13m ‘goodwill impairment’ following a reassessment of its business plan which ‘assumed a slower growth rate than previously applied’. The operating loss including the impairment of £22m compares with a deficit of £2m in the previous year.
