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Saga PLC on Wednesday reported a swing to an annual profit, underpinned by improved performances in its Travel and Insurance businesses. The Kent, England-provider of products and services for people over 50 said pretax profit amounted to £2.1 million in the financial year to January 31, swinging from a loss of £160.2 million a year prior. Revenue was 12% higher at £660.0 million from £588.3 million. ‘The group delivered a strong set of results, underpinned by the performance of the Travel and Insurance businesses, alongside continued execution of the strategic plan,’ Saga said. Shares in Saga jumped 8.4% to 631.00 pence each in London on Wednesday morning. Sales in the Travel business increased 11% to £504.1 million and underlying pretax profit rose 37% to £87.2 million. Chief Executive Mike Hazell called it a ‘transformational’ year for Saga. ‘The restructuring of our Insurance business, and the partnership with Ageas, derisks and simplifies our operating model, creating a more stable platform for growth. Alongside this, we continued to see growth across all our Travel businesses,’ he added. Saga completed the sale of its Insurance Underwriting business to Ageas SA last July. Hazell said the performance has ‘further strengthened the confidence we have in our medium-term targets of delivering underlying profits of at least £100.0 million by January 2030.’ Saga expects underlying pretax profit to ‘take a further step forward’, after a 19% improvement to £44.2 million in the year just ended. Further growth in underlying pretax profit is expected in the Travel business, with underlying pretax profit in Insurance Broking expected to be at least in line with the financial year just ended, and ahead of previous guidance. Reflecting the improved profitability, net debt fell to £499.5 million from £592.8 million, with operating cash flow surging to £205.9 million from £109.6 million. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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