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Sainsbury's profit down 39% as COVID-19 costs offset strong sales

Sainsbury's profit down 39% as COVID-19 costs offset strong sales
Sainsbury's profit down 39% as COVID-19 costs offset strong sales   -   Copyright  (c) Copyright Thomson Reuters 2021. Click For Restrictions - https://agency.reuters.com/en/copyright.html
By Reuters

LONDON (Reuters) – Britain’s Sainsbury’s on Wednesday reported a 39% fall in full year underlying pre-tax profit to 356 million pounds ($494 million) as strong food sales during the pandemic were outweighed by extra costs and the forgoing of business rates relief.

($1 = 0.7204 pounds)

(Reporting by James Davey; editing by Michael Holden)