Saga increases its 2017 interim dividend by 11.1%

DividendMax Ltd.

Saga increases its 2017 interim dividend by 11.1%

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

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