Saga on Track to Deliver Significant Growth in 2024

Spirit of Discovery

Saga Group is on track to achieve significant revenue growth for the year ahead, according to the company’s update on the period from August 1, 2023, to January 29, 2024.

Mike Hazell, chief executive officer at Saga Group, said: “For 2023-24, Saga remains on track to deliver significant growth in revenue, in addition to an underlying profit more than double that of the prior year, exceeding our previous guidance.”

The brand’s cruise and travel businesses have had a particularly outstanding year, having taken around 120,000 passengers.

For the year ahead, the Group is expected to report revenue growth of between 10 to 15 percent with an underlying profit before tax more than double that of the previous year. Ocean cruising revenue growth is expected to be around 30 percent year-on-year while river cruising is expected to return to underlying profit, the company said.

“The year ahead will see a continuation of these trends across our business. Bookings for the new seasons in Cruise and Travel are robust, showing good overall progress,” added Hazell.

“In delivering my first update as Group CEO, it is clear that Saga is a business with strong fundamentals in place, underpinned by an outstanding brand, brilliant colleagues, loyal customers and an opportunity to drive long-term sustainable growth, as we unlock value through optimizing our core businesses and reducing debt.”

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