British holiday group Saga has today forecast robust forward travel bookings for the second half of the year, after reporting a 5% fall in its first-half adjusted pre-tax profit as higher financing costs overshadowed strong trading.
Saga, which offers a range of travel products such as cruises, insurance, and financial services to the over-50s age group, said its strategic plans to reorganise its business is on track.
Shares of the company were up 2.5% in early trading.
The company is refocusing on its profitable core travel business, which is experiencing a strong rebound, while also restructuring its insurance and money businesses through new partnerships.
"Our Travel business has performed particularly strongly. Demand for our exceptional Ocean and River Cruise holidays continued to grow and we have seen a material increase in the number of customers enjoying our hotel and touring holidays," CEO Mike Hazell said in a statement.
The company reported adjusted pre-tax profit of £23.5m for the six months ended July 31, compared with £24.8m a year ago.
