Saga Group says its travel divisions have taken a hit during the ongoing coronavirus outbreak.
The over-50s specialist said its tour operator and cruise arms have experienced less demand and a rise in cancellations because of the infection, which has killed more than 3,000 people around the world.
However, the group stressed forward cruise bookings remain strong after achieving 80% of its full-year revenue target by 29 February, with the remaining 20% weighted towards Q3 and Q4.
Additionally, its two most recent departures were 80% full.
Its tour operation, however, has seen a 20% fall in forward bookings for 2020/21 compared with last year, with the coming weeks most affected.
“The evolution of Covid-19 and the impact this will have on full-year earnings for 2020/21 cannot be predicted with any certainty at the current time,” said Saga in a statement.
“While our travel business will be impacted, the group expects the performance and cash generation of the insurance business to be largely unaffected.”
Saga has been creating holidays and cruises exclusively for over 50s for more than 60 years, with incredible destinations, memorable experiences and fantastic value at the heart of what we do.