Commenting on the results, Lance Batchelor, Group Chief Executive Officer, said:
"It has been a significant and successful year for Saga, starting with our IPO and culminating in the growth strategy we outlined in January following a comprehensive strategic review. I am particularly pleased to report that the business performed well throughout our first financial year as a public company and that our tailored products continue to resonate strongly with our target demographic.
"We have presented a clear vision of how we will deliver consistent growth through our existing businesses by leveraging our model to unlock the inherent value in our brand and database. The current year has started well and trading is in line with our expectations and we remain on track to deliver on our Trading EBITDA growth target of between 5% and 7%. We are also making good progress against our strategic objectives in preparing to launch a motor panel, proceeding with the disposal of the public healthcare elements of Allied Healthcare, announcing the proposed acquisition of Bennetts, the UK’s leading provider of motorbike insurance and partnering with Tilney Bestinvest to create a compelling wealth management proposition, Saga Investment Services."
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