marks  spencer group plc said wednesday that pretax profit for the first half of fiscal 2023 rose despite increased costs and that it expects fiscal 2024 market conditions to become more challenging the uk retailer said that it is building a cost reduction and efficiency program for fiscal 2024 as it expects increased industrywide pressures on margins driven by the costofliving squeeze and higher business costs the company reported a pretax profit for the half year ended oct 1 of 2085 million pounds 2407 million compared with gbp1873 million for the same period a year earlier adjusted pretax profita metric that strips out exceptional and other oneoff itemsfell to gbp2055 million from gbp2694 million revenue came in at gbp554 billion from gbp511 billion a year ago while ocado retail revenue fell 42  and contributed net loss of gbp700000 ms expects to report an adjusted pretax profit for the full fiscal year similar to the guidance set out in fiscal 2022 it said the company said performance in the first four weeks of the second half is in line with forecasts this progress means we face into the current market headwinds with an increased resilience and level of confidence looking beyond the current stormy weather much is in our control and our mandate is clear  to step up the pace accelerate change drive a simpler leaner business and invest in growth opportunities to build a reshaped ms chief executive stuart machin said