Published by Global Banking & Finance Review®
Posted on January 29, 2026
2 min readLast updated: January 29, 2026
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Saga predicts higher annual profits due to strong demand for ocean and river cruises, improving from earlier financial guidance.
Jan 29 (Reuters) - British over-50s holiday and insurance group Saga said on Thursday it expects a bigger annual underlying profit than previous estimates, driven by steady growth in its travel business and strong demand for ocean and river cruises.
Shares of the London-listed firm were up 8.6% at 471.5 pence, as of 0804 GMT, making them the top gainers on the FTSE midcaps index.
A strong rebound in travel demand across the world, coupled with a material reduction in group debt, helped the company boost its profitability in the 2025-26 year.
"Demand for our Ocean and River Cruises continued to grow and we saw a material increase in the number of customers taking our hotel and touring holidays," CEO Mike Hazell said in a statement.
The FTSE-250-listed firm said its holiday division also expects to report underlying profit before tax ahead of last year, supported by higher passenger numbers and a positive impact from its decision to unite cruise and holidays under a single leadership team.
Saga, whose 20-year partnership with Belgian insurer Ageas went live late last year, said its insurance broking operations outperformed expectations for the year, with steady growth in policy sales.
(Reporting by Rishab Shaju in Bengaluru; Editing by Subhranshu Sahu)
A cruise is a vacation journey taken on a ship, where passengers can enjoy various amenities and activities while traveling to different destinations.
Annual profit refers to the total earnings of a company after all expenses, taxes, and costs have been deducted over a fiscal year.
Demand in economics refers to the desire and ability of consumers to purchase goods or services at a given price in a specific time period.
Underlying profit is a measure of a company's profitability that excludes one-time items or non-recurring expenses, providing a clearer view of its operational performance.
The travel business encompasses all services related to travel, including transportation, accommodation, and activities for tourists and travelers.
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