J Sainsbury PLC (SBRY.LN) said Wednesday that pretax profit fell 42% in fiscal 2019 as costs rose. The second-largest U.K. grocer said that pretax profit was 239 million pounds ($310.5 million) in the year ended March 9 compared with GBP409 million the previous fiscal year. Underlying pretax profit--the company's preferred metric which strips out exceptional and other one-off items--was GBP635 million compared with GBP589 million the prior year.
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