Financial overview

Interim Results for the six months ended 31st July 2016

Financial highlights

31st July
2016


31st July
2015


Change

Profit before tax from continuing operations

£109.9m

£101.3m

8.5%

Basic EPS from continuing operations

7.9p

7.3p

8.2%

Debt ratio (net debt1 to EBITDA1)

2.2x

2.4x

(0.2)x
Interim dividend

2.7p

2.2p

22.7%

  • Trading Profit1 of £117.6m (H1 2015 117.5m)
    • Trading Profit in the core businesses grew by 2.0%, including £4.7m negative profit impact in H1 2016 of scheduled maintenance for Saga Sapphire
  • Profit before tax, excluding the effect of derivative gains, increased by 3.9% to £104.5m (H1 2015: £100.6m)
  • Sustained cash generation, leading to further deleveraging
    • Net debt to EBITDA reduced to 2.2x from 2.4x at 31st July 2015
    • Progressing towards target range for debt ratio of between 1.5 and 2.0 times in the medium term
  • 23% increase in interim dividend to 2.7p supported by financial performance and ongoing deleveraging
  • 1Please refer to the glossary provided in the Saga plc annual report and accounts for a full definition of this measure. The income statement and supporting analysis given later in the Chief Financial Officer’s Review (within the interim results statement) shows how this measure reconciles to statutory measures.