Saga “on track” following IPO
Insurer pleased with performance across home, travel and private medical and motor improvements in first report since May Stock Exchange float.
Saga reported growth in operating profit to £110m for the six months ended 31 July 2014, up from £95.5m the previous year.
Like-for-like profit before tax also increased from £92.7m to £106.5m in the first set of results since the company floated on the London Stock Exchange in May 2014. But, there was a 3.9% revenue drop slipping from £607.1m to £583.5m.
Additionally, the group was hit by £50m of IPO costs and the reported profit before tax actually plummeted to £32.8m, down from £92.7 due to
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