Growth in cruise and travel drives 15% increase in Saga's half-year revenue

The group on Wednesday (27 September) reported half-year revenue (six months to 31 July) of £355.3 million after its ocean and river cruise units recorded underlying profits before tax of £12.9 million and £1.5 million respectively – up on last year’s losses of £6.9 million and £2.1 million.

Saga said revenue growth for its ocean cruise segment was achieved through a 17 percentage point increase in load factor, as well as 5% increase in spending per person, which has gone up to £333. River cruise load factor, meanwhile, has increased by more than a third (34%) to 83%, with per person spending now running to £296.

Forward bookings for both segments have also increased. As of 24 September, full-year booked load factor for Saga’s ocean cruises stood at 86%, 12 percentage points ahead of where it was at the same period last year. Full-year booked load factor for river, as of the same date, stood at 85% when compared to last year.