Interim Results 2019/20 Kevin O'Byrne Chief Financial Officer J Sainsbury plc Financial overview • First period reporting on an inc. IFRS 16 basis - Material impacts on depreciation, finance costs and net debt • UPBT £238m (H1 2018/19 £279m) - Phasing of cost savings, weather, higher marketing costs - Delivering on our cost ambitions • Financial services profits up £4m. Modest underlying decline offset by change in transfer pricing • £229m charges excluded from underlying profit - Largely non-cash relating ...