Saga PLC (LSE:SAGA) on Tuesday will report results for the past year, with its shares still down more than 70% from pre-Covid levels and talks said to be ongoing over the potential sale of its insurance underwriting arm.
Back in January, the provider of products and services for people over 50 said it expected to report underlying profits in a wide band of £20-30mln, on revenue up 40-50% on the previous year thanks to a recovery in the cruise and travel industry following the pandemic.
Given the wide range that profits and revenues could come in, there is some jeopardy heading into the results, with an update on recent trading and the outlook for the rest of the year also in focus.
Last month Saga said it was in exclusive discussions over the sale of its Acromas Insurance business, with any disposal requiring regulatory and shareholder approval.