January 28, 2020 / 7:30 AM / a month ago

Saga to take one-off hit from Thomas Cook collapse

Jan 28 (Reuters) - Saga Plc said on Tuesday it will record a one-off charge of 4 million pounds ($5.26 million) related to the collapse of Thomas Cook last year, while annual profit was on track to meet its prior outlook.

The tourism and insurance firm also said it expects its branded home and motor policies to be about 3% lower for the year ended Jan. 31, as the insurance market remained competitive.

Annual revenue for Saga’s tour operations is expected to be down 5%, which is in line with the half year, the company said. ($1 = 0.7608 pounds) (Reporting by Yadarisa Shabong in Bengaluru; Editing by Aditya Soni)

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