Saga shares soar 21 per cent after profits nearly double on booming cruise and holiday demand

From the Newshound archive · first published 30 September 2026 · last updated 1 October 2026.

Over-50s travel and insurance group Saga saw profits almost double to £46.6 million in its first half as wealthy customers kept booking cruises and holidays despite wider cost-of-living pressures. Revenues jumped 12 per cent to £367.5 million for the six months to July 31. Chief executive Mike Hazell said his affluent customers view holidays as a 'priority' and are 'economically resilient', brushing off concerns about Andy Burnham's triple lock changes.

Saga now expects full-year profits of £65 million to £70 million, up sharply from £44.2 million last year.

The company's ocean cruise business drove a 38 per cent jump in profits, with routes through the Mediterranean and Norwegian Fjords proving especially popular.

Hazell said Saga is 'significantly ahead' of its target to hit £100 million annual profit by January 2030, expecting to reach that milestone early.