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Saga reports strong demand for cruising in trading update

'Our Ocean Cruise business saw strong customer demand and an encouraging pipeline of forward bookings,' said Saga Group CEO Euan Sutherland
Saga Cruises reported strong demand as it delivered a trading update on the period from August 1 to January 23.

The brand achieved strong load factors and per diems in the second half of the year, with an encouraging pipeline of bookings. The load factor for the second half of 2022/23 is expected to be 84%, delivering a full year load factor of around 75%, in line with guidance and compared with 68% in the prior year.

Per diem for the full year is anticipated to be £318, also in line with guidance and compared with £299 for the year ended January 31, 2022.

These metrics result in expected year-on-year revenue growth for 2022/23 in excess of 100%.

Saga Cruises described its booking position for 2023/24 as ‘strong,’ with a load factor and per diem of 60% and £337 respectively at January 22, 2023.

In line with expectations

Saga Group’s CEO Euan Sutherland remarked, ‘Saga continued to demonstrate progress in the second half of the year, delivering a trading performance which is broadly in line with expectations. Our ocean druise business saw strong customer demand and an encouraging pipeline of forward bookings…’

He concluded by saying, ‘Overall, we are well-placed to continue our growth as we make progress against our three-step plan which is focused on maximising our existing businesses, step-changing our ability to scale while reducing debt and positioning Saga as “The Superbrand” for older people in the UK.’

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