Saga plc (GB:SAGA) has released an update.
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Saga plc, a leading UK provider of products and services for individuals aged 50 and above, has reported a profitable year with significant strides in revenue and underlying profit. The company has more than doubled its underlying profit compared to the previous year while successfully reducing its net debt by £74.5 million. The promising results are attributed to growth across Cruise and Travel sectors and a strategic focus on stabilizing policy volumes in the challenging Insurance sector. Despite the positive performance, the Board has opted not to recommend a dividend payment for the financial year, prioritizing debt reduction and strategic flexibility.
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