- Gross margin pulls back
- Net debt down marginally
Given Saga’s (SAGA) business mix, few companies could have been worse placed to ride out the pandemic. Indeed, one of the first areas to feel the negative impact of Covid-19 was the cruise industry. At risk of sounding callous, it probably didn’t help matters that Saga’s target demographic, the over-50s, found themselves disproportionately in the crosshairs of the virus.