Saga report record launch of 2024/25 ocean cruise season

In a trading update issued Tuesday, covering the period February 1 to June 19, 2023, the company spcialising in over 50s travel reported a booked load factor for ocean cruise 2023/24 at June 18 was 79%, seven percentage ponts ahead of the same time last year. At the same date, the per diem was £338, which was 6% ahead of the same point in 2022.

The full year load factor projection is in line with previous guidance of at least 80% and Saga remains on-track to deliver £40m EBITDA per ship (excluding overheads). Due to expected seasonality in the late summer, this will be weighted towards the second half of the year.

Saga aslo sated its river division is set to return to profitability with a booked load factor for 2023/24 of 74% at mid June and a per deim of £293.

This equated to revenue of £39m which was 37% ahead of the same point in the prior year.

Euan Sutherland, Saga Group Chief Executive Officer, commented: 'Year-end underlying profit is expected to be well ahead of the prior year' referencing strong bookings for ocean cruises with a load factor that is ahead of the same point in the prior year, and 'our river cruise and travel businesses are on track to return to profitability in line with previous guidance.'