Over-50s holiday and insurance firm Saga Group said cruise bookings for the coming year were higher than pre-pandemic levels due to pent-up demand from holiday goers.
It comes as the British firm reported a “resilient performance” this morning, with annual revenue up 11.7 per cent to £377.2m, whilst also posting a narrower annual loss.
The company provides a wide range of services for older customers, including holidays, insurance, personal finance and personal life.
Whilst cruise bookings were beneficial for the company, it said it expects limited short-term reductions to travel bookings due to the ongoing situation Ukraine.
Euan Sutherland, Saga’s Group Chief Executive Officer, said: “Looking to the future, I am both confident and excited about the opportunities ahead of us as we emerge stronger from the pandemic than we went in, whilst remaining mindful of the current challenging external environment”.
Meanwhile, the insurance side of the business delivered a “robust performance” with the second year of policy growth after several years in decline.
“Over the last year, Saga has delivered a resilient performance, whilst laying the foundations for future growth. During 2021/22, we reduced our debt, strengthened our financial position and relaunched the brand”, Sutherland added.
“Against this backdrop, we are now looking to convert the foundations laid over the past two years into sustainable growth and are further evolving our strategic approach. Our growth plan will see us focused on maximising our existing businesses, reducing our debt while step-changing our ability to scale the business and positioning Saga as ‘The Superbrand’ for older people.”