Jan 29 (Reuters) - British over-50s holiday and insurance group Saga forecast higher annual underlying profit on Thursday, an improvement from its half-year guidance, driven by steady growth in its
Saga Reports Increased Annual Profit Driven by Travel Demand
Saga's Financial Performance Overview
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.
Travel Business Growth
"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.
Insurance Operations Success
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)
