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Home » UK Shares » Three Quick Facts » Three Quick Facts: Saga, Tasty and 88 Energy

Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.

#1. Optimism, but Saga posts full year loss

Full year numbers are out from Saga [LON:SAGA] this morning, with the lifestyle company making some progress but drifting from a £17m underlying profit a year ago down to a £6.7m loss. The company does however note a reasonable recovery in its travel divisions with bookings for 2022/23 as of yesterday some 30% lower than pre-pandemic levels and expectations that confidence will continue to grow here in the weeks ahead. Dividend payments remain suspended.

#2. Headwinds building for casual dining operator Tasty

AIM listed casual dining operator Tasty [LON:TAST] has published results for the full year to 26th December. Revenues are up 44%, despite a weaker than expected Christmas period as a result of those COVID restrictions being implemented, allowing the company to deliver a post-tax profit of £1.2m against a £12.7m loss in the previous year. The company notes that as we emerge from the pandemic it faces a raft of headwinds including rising input costs, the national insurance increase and the end of rates relief. Despite that return to profit, investors may struggle to find much to cheer.

#3. 88 Energy Merlin drilling completed

Again sticking with AIM, 88 Energy [LON:88E] has provided a further update on its Merlin 2 well, which has now been drilled to its maximum depth. Initial readings appear positive but over the next 7-10 days, wireline testing will be undertaken and that will be the trigger for confirming if a hydrocarbon discovery has been made or not.

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This article is not investment advice. Investors should do their own research or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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