It's a go for a second Saga newbuild at Meyer Werft

Saga goes down VIP route to stem high spender decline

Saga goes down VIP route to stem high spender decline

The company, a United Kingdom specialist in products and services over-50s, increased interim dividend by 11.1% to 3.0p thanks to "continued confidence in the business's operational performance", group CEO Lance Batchelor said in a statement.

The drop in the pound since the Brexit vote has hit many British consumers' spending power, but Saga reported solid growth in its travel business on Friday.

Stripping out those costs, underlying profits were up 5.5pc.

Its insurance business remains its biggest contributor, with retail broking growing 5% to £70.9 million, helped by a strong performance in the motor sector.

"The launch of its new Saga Possibilities scheme, which will offer members various discounts and benefits, could be key".

Spirit of Adventure is expected to be delivered in summer 2020, joining Spirit of Discovery which will sail its first cruise in July 2019.

"Our retail broking and travel divisions are performing well".

Lance Batchelor, chief executive officer, Saga plc who announced the decision at the company's interim results today said: "Our first new ship, Spirit of Discovery, will be in service in June 2019 and with pre-sales being very strong, this confidence in demand has supported our decision to expand the new build fleet and purchase our second new ship, to be delivered in August 2020".

Batchelor also revealed the launch of Saga Possibilities, a new membership programme available to all Saga customers.

"Saga Possibilities is a critical new offering that will allow us to thank and encourage our customers to enjoy more of what Saga can offer".

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