FY underlying revenue 732.7 mln pounds, up 13% (Il Sole 24 Ore Radiocor) - London, 17 Apr - Saga, a UK specialist in products and services for people over 50, said that in the full year ended January 31, its pretax losses narrowed to 129.0 million pounds from 272.7 million a year earlier.

The bottom line includes a 104.9 million pound impairment of insurance goodwill, restructuring costs of 40.3 million and other smaller one-off items.

The underlying profit before tax surged 146% to 38.2 million pounds.

Underlying revenue grew 13% to 732.7 million pounds.

Available operating cash flow jumped 162% to 143.8 million pounds.

Net debt was cut to 637.2 million pounds from 711.7 million a year earlier, with the leverage ratio reduced to 5.4 from 7.5.

For the current fiscal year, the group expects to generate an underlying profit before tax that "is broadly consistent with that of 2023/24, reflecting growth across Cruise and Travel, offset by a transitional year in Insurance, before a planned return to growth thereafter.".

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(RADIOCOR) 17-04-24 13:22:36 (0388) 5 NNNN