Published by Global Banking & Finance Review®
Posted on April 15, 2026
2 min readLast updated: April 15, 2026
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Saga plc is outpacing its 2030 medium‑term targets, with full-year underlying profit before tax up 19% at £44.2m for the year ended 31 January 2026, driven by robust cruise demand and a streamlined insurance model, while its leverage and net debt improve significantly.
April 15 (Reuters) - British over-50s holiday and insurance group Saga was tracking ahead of plans to reach its medium-term targets, the company said on Wednesday, after booming demand for cruises and a restructuring of insurance operations lifted annual profit.
Shares in the firm rose 8.6%.
Global travel has been hit by the war in the Middle East, which has disrupted routes and hurt consumer sentiment across the board, with surging oil prices also racking up costs for businesses and consumers.
However, Saga has minimal exposure to the region and demand for its ocean and river cruises has remained steady, with the company saying it was "fully locked in" against oil and energy shocks for the year, and about 75% for 2027-28.
Saga reiterated its medium-term target of at least 100 million pounds ($135.6 million) in annual underlying profit by January 2030, and said that it was "already ahead of the planned trajectory" set out last year.
"While mindful of the current uncertainty in the Middle East, we have minimal exposure to the region, with no Cruise itineraries and only limited Holidays bookings to Egypt, Cyprus and Turkey," the company said in a statement.
Saga expects underlying profit to take "a further step forward" in fiscal 2026-27 after underlying profit before tax rose 19% to 44.2 million pounds for the year ended January 31, ahead of its forecasts.
Revenue for the year grew 11% to 654.6 million pounds.
($1 = 0.7372 pounds)
(Reporting by Rishab Shaju and Dhanush Vignesh Babu in Bengaluru; Editing by Rashmi Aich and Mrigank Dhaniwala)
Saga is ahead of its profit targets due to strong demand for its cruises and a successful restructuring of its insurance operations.
Saga's cruise business remained steady with minimal exposure to the Middle East, protecting it from travel disruptions.
Saga's underlying profit before tax rose 19% to 44.2 million pounds, and revenue grew 11% to 654.6 million pounds for the year ended January 31.
Saga aims for at least 100 million pounds in annual underlying profit by January 2030.
Saga has minimal exposure to the Middle East, so its operations and cruise demand have not been significantly affected.
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