SAGA PLC (SAGA) — Interim Results Investor Presentation

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to the SAGA PLC investor presentation. Throughout this recorded presentation, investors will be in listen only mode. Questions are encouraged. They can be submitted at any time via the Q and A tab that's just situated on the right hand corner of your screen. Please just simply type in your questions and press send. The company may not be in a position to answer every question received during the meeting itself. However, the company can review all questions submitted today, and we'll publish those responses where it's appropriate to do so on the Investor Meet company platform. Before we begin, we would just like to submit the following poll. And if you could give that your kind attention, I'm sure the company would be most grateful. And I would now like to hand you over to the executive management team from SAGA PLC. Mike, good morning, sir. Morning, everybody, and welcome to SAGA's results for the six months ended 07/31/2025. My name is Mike Hazel, and I'm the group CEO, and I'm joined today by our group CFO, Mark Watkins. I'll kick off with a quick overview of our first half performance, and then Mark will take you through the financials in a bit more detail. I'll then provide you with a brief update on our strategy before we leave time for questions. So I'm pleased to report that we've had a strong first half with a performance ahead of our expectations. We've seen first half revenues increase, profits perform ahead of our expectations and a significant reduction in net debt. Underpinning this performance was the continued momentum that we're seeing in travel. Alongside a strong trading performance, we've also continued to deliver the strategic actions that we've previously laid out. We completed our refinancing in Fe...