Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Saga's next year cruise bookings cross pre-COVID-19 levels, post H1 profit

Published 22/09/2021, 07:13
Updated 22/09/2021, 07:50
© Reuters.

© Reuters.

(Reuters) -Over-50s holidays group Saga Plc said on Wednesday cruise bookings for next fiscal year had crossed pre-pandemic levels, but warned there was still uncertainty on the longer-term impact of COVID-19 on the sector.

The Kent, UK-based company reported a pretax profit of 0.7 million pounds ($1 million) for the six months ended July 31, compared with a 55.5 million pound loss a year earlier, with earnings from its insurance division making up for the shortfall in its cruise operations.

"We have begun a phased resumption of our tour operations. However, COVID-19 is still affecting them and we expect to take far fewer customers on holiday than we would normally in the second half of our financial year," Saga Chairman Roger De Haan said.

Tour bookings for 2021/22 stood at 18 million pounds and 109 million pounds for 2022/23.

Saga, which provides products and services tailored for customers over the age of 50 in the UK, has been offering discounts and has mandated vaccination for cruisers to attract travellers after months of hiatus due to the pandemic. Its cruises resumed in June.

The industry was hit by a number of coronavirus outbreaks in the middle of cruises. New and fast-spreading variants of the virus have added to uncertainty as the sector comes back online.

($1 = 0.7325 pounds)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.