Saga profits plummet in all operating areas
Underlying profit before tax fell 22.6% in retail broking and 53.3% in underwriting.
Saga has reported that its underlying profit before tax fell 52.1% to £52.6m across the group in the six months to 31 July 2019 (H1 2018: £109.7m).
In addition, underlying profit before tax in Saga’s insurance business fell 35.4% from £109.3m to £70.6m.
In retail broking, underlying profit before tax fell 22.6% from £63.7m to £49.3m. For its underwriting business AICL, this measure fell 53.3% from £46.5m to £21.3m.
Patrick O’Sullivan, chairman at Saga, partially blamed the slide in underlying
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