Saga sales soar thanks to rising demand for cruises and vacation travel

Saga’s revenue is rising thanks to a rebound in demand for cruises and vacations.

The Over-50s group said sales have been boosted by a rebound in demand for short breaks since the lifting of pandemic restrictions, with the group estimating a 40-50 per cent increase in sales from last year’s £377.2million.

But the vacation-to-financial services company acknowledged a tougher year for its insurance arm after it reported a 3 percent drop in policy sales and its insurance business hit by rising claims costs.

Bookings soar: Saga said sales have been boosted by a rebound in holiday demand since pandemic restrictions were lifted

The problems in his insurance division made him warn of profits last fall.

It lowered its full-year guidance for pre-tax profit to £20m-30m, compared with £35m-50m for last year’s guidance.

Saga said his travel business is expected to report a tenfold increase in revenue from last year. Cruise and tour bookings for 2023-24 are strong, he added.

Euan Sutherland, Chief Executive, said: ‘Overall we are well positioned to continue our growth.’

https://www.soundhealthandlastingwealth.com/business/saga-sales-soar-thanks-to-rebound-in-demand-for-cruises-and-holidays/ Saga sales soar thanks to rising demand for cruises and vacation travel

Brian Ashcraft

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