**Summary**
Saga plc, a UK specialist in products and services for people over 50, released a trading update on January 29, 2026, highlighting strong performance and strategic progress. Key points include
1. **Financial Performance**
Underlying Profit Before Tax is expected to exceed prior year figures and surpass half-year guidance.
Ocean and River Cruise segments showed strong growth, with improved load factors and per diem rates.
Holidays division reported robust growth in booked revenue (13%) and passenger numbers (11%).
Insurance Broking outperformed expectations, with growth in policy sales and higher profits.
Net Debt is projected to be lower than previous guidance, supported by strong cash flow and proceeds from the sale of the Insurance Underwriting business.
2. **Strategic Initiatives**
Simplified Travel business under a single management team for efficiency and customer focus.
Launched new partnerships with Ageas (Insurance Broking) and NatWest Boxed (Saga Money).
Introduced an improved instant access savings account and plans to launch more financial products in 2026.
3. **Outlook for 2026/27**
Continued momentum in Cruise and Holidays, with strong booking trends.
Insurance Broking profits expected to align with previous guidance as the Ageas partnership matures.
Further reduction in Net Debt and leverage anticipated, with peak leverage already passed.
4. **Long-Term Goals**
Confident in achieving underlying profitability of at least £100m and leverage below 2.0x by January 2030.
Saga’s preliminary results for the year ending January 31, 2026, are scheduled for April 15, 2026. The company remains focused on delivering high-quality products and services while advancing its strategic objectives.