Saga, the UK-based travel and insurance group, reported a strong first half of the year with significant revenue growth and raised its annual guidance, signaling confidence in achieving medium-term financial targets ahead of schedule.

The company highlighted a 38 percent increase in underlying profit from its key earnings generator, Ocean Cruise, which reached £47.7 million. River Cruise operations saw an even more substantial rise, with profits up 54 percent to £6 million, supported by the launch of the new vessel Spirit of the Moselle. Additionally, the holidays division recorded a profit of £6.6 million, more than doubling compared to the previous period.

On the insurance front, broking profits surged by 75 percent, reaching £15.9 million. This performance contributed to improvements in both profitability and the company’s balance sheet, bringing Saga closer to its target of an annual underlying pre-tax profit of £100 million and a leverage ratio below two times, both expected before 2030.

Saga’s shares have responded positively to the results, trading at 13 times forward consensus earnings and increasing more than 165 percent over the past year. The group’s updated outlook underscores management’s positive view of ongoing growth prospects across its travel and insurance segments.