Tuesday , February 19 2019
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Opening Quote: Saga takes a dip

Summary:
Saga takes a dip. FT Opening Quote is your early Square Mile briefing. You can sign up for the full newsletter here. Saga, the travel and insurance business for the over-50s, has reported a dip in pre-tax profits over the first half of 2017.The company, which is best-known for its cruise ship holidays, said profits before tax were £103m for the six months to July 2017, down 6.3 per cent on the same period last year. Saga said the decline was due to refinancing and net fair value losses on derivatives.In January, Saga signalled a major expansion of its travel business, announcing ambitious new profit targets and the purchase of a new cruise ship, the Spirit of Discovery, due to arrive in 2019.Chief executive officer Lance Batchelor said strong pre-sales for cruise ship holidays had

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Saga takes a dip. FT Opening Quote is your early Square Mile briefing. You can

Siona Jenkins
Former Cairene; FT Middle east news editor. Views my own.

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