Specialist insurer
Saga PLC is doing well so far, sharing that its core insurance and travel businesses have continued their good start to the year even amid a changing economic and political environment.
According to a
Proactive Investors report, the firm said it is well positioned to meet the strategic objectives it set out last March. Saga’s trading update was for the period from February 01 to June 21, and interim results will be released on September 22.
The report noted that the over-50s specialist had solid growth in full-year profits three months ago due to good performances in its divisions. Net debt was cut while dividends rose.
“We remain on track to deliver on our strategic objectives, including the launch of our membership scheme, Saga Possibilities, which will go live later this year,” Saga’s chief executive Lance Batchelor was quoted as saying.
Excluding the impact of the adjusted Ogden rate as well as derivative gains, Saga saw its underlying pre-tax profit increase to £187.4 million for the 12 months to January 31 of this year.
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