Saga 2017 interim results
Consistent growth of 5.5% in underlying profit before tax, supported by 10.4% growth in our retail broking and travel businesses
Profit before tax of £103.0m reflects costs associated with the successful refinancing and net fair value losses on derivatives
Sustained cash generation, leading to further deleveraging to 1.8x
11.1% growth in the interim dividend to 3.0p
Operational and divisional highlights
Saga Possibilities launched to all our customers with a range of exclusive benefits
Launch of our new 'keep doing' brand identity
High demand for Spirit of Discovery supports our decision to invest in our cruise capacity with the purchase of our second new ship, Spirit of Adventure, for earlier delivery in August 2020
Retail broking profit growth of 4.7% to £70.9m (H1 2016: £67.7m) with a strong performance in motor broking
Underwriting profit before tax of £46.8m (H1 2016: £49.1m) driven by lower reserve releases as previously guided
Strong travel profit growth of 63% to £11.9m (H1 2016: £7.3m)
Marketing and operational efficiencies reducing operating costs
