Business overview

Saga has become one of the UK’s most trusted businesses by providing customers with excellent products and high-quality customer service for 65 years. We have successfully used our reputation and the brand’s strength to broaden our product offering and expand into new areas where we know the Saga approach to quality and service will succeed.

Financial overview 

Interim results for the year ended 31 July 2017

Financial highlights 31 July 2017 31 July 2016 Change
Underlying profit before tax1 £110.2m £104.5m 5.5%
Profit before tax £103.0m £109.9m (6.3)%
Interim dividend 3.0p 2.7p 11.1%
Net debt2 £460.4m £534.0m (13.8%)
Debt ratio (net debt to Trading EBITDA3) 1.8x 2.2x (0.4x)

1 Profit before tax excluding fair value gains and losses on derivatives and debt write-off costs
2 Bank debt and borrowings, excluding any overdrafts held by the restricted trading subsidiaries, net of available cash (see the “Financing” section later in this report for further detail) 
3 Earnings before interest payable, tax, depreciation and amortisation, non-trading items, IAS19R pension charge and fair value gains and losses on derivatives (see “Income Statement” section later in this report for reconciliation to profit before tax)