---
title: "Saga Returns to Profit Amid Rise in Cruise Demand"
publisher: "Stockmark.IT"
author: "Stockmark.IT Website"
published: "2026-04-16T10:37:22+00:00"
modified: "2026-04-16T07:47:46+00:00"
date: 2026-04-16
canonical: "https://stockmark.it/saga-returns-to-profit-amid-rise-in-cruise-demand/"
category: "Financial"
categories: ["Financial", "Insurance industry"]
image: "https://i0.wp.com/stockmark.it/wp-content/uploads/2026/04/stencil.default-2026-04-16T084653.470.webp?fit=1200%2C800&quality=80&ssl=1"
format: "news"
language: "en-GB"
---

# Saga Returns to Profit Amid Rise in Cruise Demand

**Published:** April 16, 2026
**Author:** Stockmark.IT Website
**Categories:** Financial, Insurance industry
**Featured image:** ![stencil.default 2026 04 16t084653.470](https://i0.wp.com/stockmark.it/wp-content/uploads/2026/04/stencil.default-2026-04-16T084653.470.webp?fit=1200%2C800&quality=80&ssl=1)

---

Saga has marked a significant turnaround by returning to profit for the first time since 2018, reporting a £2.1 million statutory pre-tax profit for the year ending January, following a notable loss of £160.2 million the previous year. This recovery has been driven largely by a resurgence in demand for cruises, particularly among its target demographic of individuals aged over 50.

Mike Hazell, Saga’s chief executive since late 2023, has overseen a comprehensive restructuring of the business. Key changes included the sale of its insurance underwriting division to Belgian company Ageas, which has established a 20-year partnership with Saga to provide home and motor insurance services. The streamlining of travel operations into a single management structure has also contributed to improved performance across the company.

The travel division, which encompasses both ocean and river cruises, has delivered a remarkable increase in underlying profits, rising by 37 per cent to £87.2 million on revenues of £504.1 million, representing an 11 per cent increase. The performance of the insurance broking segment surpassed expectations, with profits climbing by 17 per cent to £16.9 million, alleviating concerns regarding the disruptions caused by the reorganisation.

Following years of significant losses, which have totalled over £1 billion since 2018, Saga’s return to profitability is a notable development in its corporate narrative. The company, founded in 1951, encountered substantial financial challenges, particularly during the COVID-19 pandemic which severely affected its travel business. Hazell’s leadership is viewed as a pivotal factor in steering the company back towards stability.

Investors reacted positively to the announcement, pushing Saga’s shares up by 6 per cent to 617 pence, raising the market capitalisation to approximately £890 million. This valuation remains considerably lower than the £2.1 billion valuation set during its initial public offering 12 years ago.

Looking ahead, the firm expressed confidence in achieving its target of generating at least £100 million in operating profits by January 2030. Analysts at Peel Hunt have indicated that Saga is in the midst of a transformative process, having reduced its exposure to insurance underwriting, which may lead to potential growth in the near future.

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