March 13 (Reuters) - Saga PLC:
* UPDATE IN RELATION TO TRAVEL ADVICE FROM THE GOV’T
* MADE DECISION TO TEMPORARILY SUSPEND OPERATIONS OF OUR CRUISES UNTIL 1 MAY 2020
* DEMAND FOR OUR CRUISES HAS BEEN VERY POSITIVE, WITH BOOKINGS OF AROUND 80% OF FULL YEAR REVENUE TARGET
* CANCELLATIONS HAD INCREASED IN RECENT WEEKS
* IT IS ESTIMATED THAT A CESSATION OF CRUISE TRADING FOR NEXT 6 WEEKS WILL REDUCE CRUISE PROFIT BEFORE TAX BY BETWEEN £10M AND £15M
* TRAVEL ENVIRONMENT REMAINS UNCERTAIN
* THERE ARE A RANGE OF FURTHER MITIGATING ACTIONS GROUP WILL TAKE INCLUDING ADDITIONAL COST EFFICIENCIES AND REDUCING DISCRETIONARY SPEND Source text for Eikon: Further company coverage:
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