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Saga confirms £150m capital raise and investment from ex CEO Sir Roger De Haan

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Business also posts pre-tax loss of £55.5m for the first six months of 2020.

Saga has confirmed its intention to raise £150m in equity capital, including a £100m investment from its former owner and CEO, Sir Roger De Haan.

The provider confirmed that De Haan’s investment would be made in line with Saga’s announcement on 1 September.

The update came as Saga revealed its financial results for the first half of 2020, reporting a pre-tax loss of £55.5m, a 205.5% fall from the pre-tax profit it achieved in H1 2019.

Its underlying profit before tax also fell to £15.9m (H1

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