Saga’s interim results for the six months ending July 31, 2024, showed strong performance, particularly in the Ocean Cruise segment, which reported an Underlying Profit Before Tax of £28.0m, more than double the previous year’s £12.9m.
Revenue for the Ocean Cruise business increased by 17pc to £121.5m, driven by a 90pc load factor and a 9pc rise in per diem to £362, resulting in an EBITDA of £55.8m, exceeding the Group’s annual target of £40.0m.
The River Cruise segment also performed well, with an Underlying Profit Before Tax of £2.9m, a 93pc increase from the previous year, and revenue growing by 13pc to £26.4m, supported by an 86pc load factor.
Group chief executive officer Mike Hazell noted that Saga’s overall Underlying Profit Before Tax more than tripled year-on-year, with a net debt reduction of £42.8m, highlighting successful growth strategies and positive trends in both the Ocean and River Cruise businesses.
