StockMarketWire.com - Over-50's services group Saga said it had decided to suspend all of its cruises until the beginning of May as the coronavirus spreads.

The decision came after the UK government advised people aged 70 and over and those with pre-existing health conditions against cruise ship travel.

Customers due to travel in the next six weeks would be offered a full refund or travel credit, the company said.

The cessation of cruises would reduce the division's pre-tax profit by between £10m and £15m, Saga said.

Related advance customer receipts for the period were £22m, it added.

'There are a range of further mitigating actions the Group will take including additional cost efficiencies and reducing discretionary spend,' Saga said.

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