Trading Profit of £117.6m (H1 2015: £117.5m)
o Trading Profit in the core businesses grew by 2.0%, including £4.7m negative profit impact in H1 2016 of scheduled maintenance for Saga Sapphire cruise ship
Profit before tax, excluding the effect of derivative gains, increased by 3.9% to £104.5m (H1 2015: £100.6m)
Sustained cash generation, leading to further deleveraging:
o Net debt to EBITDA reduced to 2.2x from 2.4x at 31 July 2015
o Progressing towards target range for debt ratio of between 1.5 and 2.0 times in the medium term
23% increase in interim dividend to 2.7p supported by financial performance and ongoing deleveraging
