Half Year 2025 Saga PLC Earnings Call Transcript
(audio in progress) for the six months ended July 31, 2025. My name is Mike Hazell, and I'm the group CEO, and I'm joined today by our Group CFO, Mark Watkins. I'll kick off with an overview of our first half performance. And then Mark will take you through the financials in detail. Finally, I'll provide a brief update on our strategy before we open for questions at the end.
I'm pleased to report 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 we are seeing in travel.
Alongside a strong trading performance, we've also continued to deliver the strategic actions that we previously laid out. We completed our refinancing in February, putting in place a new 2031 corporate debt facility and repaying our 2026 bond maturity and the Roger De Haan loan facility.
To support the delivery of our next phase of our strategy, we
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