Interim Results
38
CONTINUED INVESTMENT FOR THE FUTURE
Underlying marketing costs*
£2.6m underlying increase vs. the prior year:
£0.9m incremental Cruise and Travel spend to
support future bookings as operations begin to
normalise
£0.6m Insurance reflects TV advertising,
partially offset by lower volume-related spend
£1.6m within Saga Money to support launch of
new equity release product
Underlying administration costs*
£4.4m underlying increase in incremental
overheads:
Resumption of Cruise and Travel trading
Investment in Insurance and other capability, in
senior team and in contact centres
Partially offset by £1.8m reduced bonus accrual
£18.9m
£2.1m
£1.6m
£0.9m
£0.6m
(£0.5m)
Underlying increase (excl. written to earned
adjustment) of £2.6m
£23.6m
HY 2021 Cruise and Insurance
Travel
Money
Central
Costs and
other
Written to HY 2022
earned
adjustment
£71.8m
£0.6m
£0.8m
£0.2m
£1.0m
(£0.4m)
Increase of £2.6m
(excl. written to earned adjustment)
£74.0m
* Administration and marketing costs are reconciled to statutory definitions on page 39
Interim results for the six months ended 31 July 2022
HY 2021 Cruise and Insurance
Travel
Money
Central
Costs and
other
Written to HY 2022
earned
adjustment
SAGAView entire presentation