Half Year 2022 Saga PLC Earnings Call Transcript
Welcome to the Saga Interim Results Presentation for the 6 months to end of July 2022. I'm Euan Sutherland, Group Chief Executive; and I'm joined by James Quin, our Group CFO; and John Constable, our CEO of Saga Travel Group.
I will give you an overview of the first half, then James will cover the usual financials. John will then update you on the great progress that he is making to grow our touring and holidays business. And finally, I'll give you a brief update on our strategy.
I'm pleased to report that for the first half of the 2022-'23 financial year, Saga generated an underlying profit before tax of GBP 14 million, well ahead of consensus, compared with an underlying loss of GBP 2.8 million in the prior year. We expect to report underlying profit of between GBP 20 million and GBP 30 million at the year-end.
Insurance market was challenged in the market, which is adjusting to the changes post FCA market study and experiencing high levels of claims inflation. We're approaching this
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