Strong Revenue Growth
Underlying revenue increased by 7% from the prior period, driven largely by growth in travel businesses and improved performance in insurance broking.
Significant Net Debt Reduction
Net debt reduced by GBP 77.7 million to GBP 515.1 million, with a leverage ratio reduced to 4.3x from 4.8x in the prior year.
Ocean Cruise Success
Ocean Cruise business grew underlying PBT by 23%, with a load factor of 94% and per diems 8% higher than the previous year.
River Cruise Expansion
Successful launch of the Spirit of the Moselle, with a 93% load factor and 7% higher per diem, contributing to a 34% growth in underlying PBT.
Insurance Broking Improvement
Underlying PBT of GBP 8.9 million, with policy volumes for motor, travel, and private medical insurance returning to growth after years of decline.
Strong Holidays Business Performance
Revenue grew 14% against the prior year, supported by a 13% increase in passenger numbers, with underlying profitability increasing to GBP 3.2 million from GBP 0.3 million.
Strategic Partnerships and Simplification
Completed the sale of the underwriting business, preparing for the launches of Ageas and NatWest partnerships, moving towards a lower-risk business model.