Business
2025-26 interim results statement
Saga PLC reported interim results for the six months ended July 31, 2025, showing strong performance driven by Travel. Underlying Revenue increased by 7% to £320.5m, while Revenue rose by 9% to £328.2m. Trading EBITDA grew by 8% to £67.5m. However, Underlying Profit Before Tax decreased by 5% to £23.5m due to increased finance costs, although Profit before tax improved significantly to £3.7m. Available Operating Cash Flow increased substantially by 64% to £89.4m. Net Debt improved by 17% to £515.1m, and the Leverage Ratio decreased to 4.3x. The company successfully refinanced its debt with a new £335.0m term loan and completed the sale of its Insurance Underwriting business, generating £17.0m more net cash than previously expected. Disclaimer*
About this update from Saga Plc
[{"type":"text","content":"\n\n24 September 2025\nSaga plc\nInterim results for the six months ended 31 July 2025\nFirst half results ahead of expectations, driven by continued strength in Travel.\nDelivery of strategic plans on track.\n \nSaga plc (Saga or the Group), the UK's specialist in products and services for people over 50, announces its interim results for the six-month period ended 31 July 2025.\n\n\n\n\nSix months ended\n\n\n31 July 2025\n\n\n31 July 2024\n\n\nChange\n\n\n\n\nUnderlying Revenue1,2\n\n\n£320.5m\n\n\n£298.2m\n\n\n7%\n\n\n\n\nRevenue\n\n\n£328.2m\n\n\n£300.6m\n\n\n9%\n\n\n\n\nTrading EBITDA1,2\n\n\n£67.5m\n\n\n£62.4m\n\n\n8%\n\n\n\n\nNet finance costs3\n\n\n(£20.5m)\n\n\n(£12.9m)\n\n\n(59%)\n\n\n\n\nUnderlying Profit Before Tax1,2\n\n\n£23.5m\n\n\n£24.8m\n\n\n(5%)\n\n\n\n\nProfit/(loss) before tax2\n\n\n£3.7m\n\n\n(£116.9m)\n\n\n103%\n\n\n\n\nAvailable Operating Cash Flow1\n\n\n£89.4m\n\n\n£54.4m\n\n\n64%\n\n\n\n\nNet Debt1\n\n\n£515.1m\n\n\n£617.2m4\n\n\n17%\n\n\n\n\nLeverage Ratio1\n\n\n4.3x\n\n\n4.8x4\n\n\n0.5x\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n1 Refer to the Alternative Performance Measures Glossary for definition and explanation\n2 From continuing operations\n3 Net finance costs exclude Ocean Cruise and Insurance Underwriting finance costs and Travel net fair value losses on derivatives\n4 Following the Group's refinancing and revised covenant definition, Net Debt and Leverage Ratio have been updated for 31 July 2024\n \nFinancial highlights\nWe have delivered a strong set of financial results, driven in particular by the excellent performance of our Travel business. The Group has made clear operational progress in the first half of the year and now has solid foundations in place to achieve long-term growth.\n· Strong first half trading performance, ahead of our expectations. As a result, full year Underlying Profit Before Tax5 is now expected to be in line with the prior year, despite increased finance costs.\n· Trading EBITDA5,6 grew 8% to £67.5m, with Underlying Revenue5,6 up 7%. As a result, Trading EBITDA is now expected to be ahead of expectations.\n· Underlying Profit Before Tax5,6 was ahead of expectations but £1.3m lower than the same period last year due to increased financing costs associated with the Group's new...