The over 50’s travel and insurance provider Saga posted interim results this morning, noting a strong first half performance with trading coming in ahead of expectations. Forward bookings for travel remain strong, whilst increased passenger numbers are set to further improve profitability following the reversal of a meaningful loss in the comparative. Earlier stated objectives to deliver underlying pre-tax profits of £100m a year by 2030 whilst also reducing leverage to 2x also remain on track. The Saga share price was trading up around 7% shortly after the open.
Cloud-based business software provider Pinewood Technology has only just ascended into the FTSE-250 but half year results published this morning have evidently given investors some cause for concern. The headline metrics are universally positive with revenues up 21% and gross profits 17% higher. There was however a rescheduling of work with a new customer which will push some cashflows into FY26, and that appears to be weighing despite optimism over longer term prospects. The Pinewood share price was trading almost 11% lower in early trade.
The leading classified advertising group in the Baltics published a trading commentary ahead of today’s AGM, noting that the Estonian car sales market had been depressed by recent tax changes. As such, revenue and profit growth for the year is now expected to be 3-4% lower than previously guided. The BCG share price was down 13% by 8.30am.
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