saga plc said tuesday that it swung to a firsthalf pretax loss despite higher revenue on a oneoff impairment of assets and that it cut fullyear expectations the uk company a provider of specialized products for consumers over 50 said that for the six months ended july 31 pretax loss was around 2575 million pounds 2752 million compared with a pretax profit of around gbp700000 a year earlier the company recorded a gbp2695 million writedown in the period most of which was related to an impairment of insurance goodwill due to reduced expectations for future motor and homeinsurance margins the company reported a swing to an underlying pretax profita key metric that strips out exceptional and other oneoff itemsof gbp140 million from an underlying pretax loss of gbp28 million the year before the company said that this was because it was able to resume morenormal cruise and travel operations revenue rose to gbp2583 million from gbp1564 million it said saga said that due to inflationary pressures in the insurance market it now expects fullyear underlying pretax profit to be in the range of gbp20 million to gbp30 million down from previous guidance of gbp35 million to gbp50 million