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Saga reported that pre-tax profits halved in the first half as the company focused on transforming its business in a tough market.
Pre-tax profit slumped 52.1% to £52.6m in the six months to 31 July 2019.
However, the company said it had made 'sufficient progress' in the first half to confirm its confidence in achieving its full-year guidance of an underlying pre-tax profit of between £105m and £120m.
'Our focus over the next six months will be in building on this to ensure that we can grow our core businesses and continue to improve cost and capital efficiency,' said chairman Patrick O'Sullivan.
'We have made good progress against our strategic reset. The sales of our 3-year fixed price insurance are encouraging, and a higher proportion of customers are coming to us direct. Spirit of Discovery is now fully operational, delighting customers, and delivering on our targets for filling additional cruise capacity into next year,' added CEO Lance Batchelor.
The company said it would pay an interim dividend of 1.3p, in line with its rebased dividend policy.