We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for real-time alerts, custom portfolio, and market movers
| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Saga Plc | SAGA | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 116.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 116.00 |
| Industry Sector |
|---|
| LIFE INSURANCE |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 19/09/2019 | Interim | GBP | 0.013 | 10/10/2019 | 11/10/2019 | 22/11/2019 |
| 04/04/2019 | Final | GBP | 0.01 | 16/05/2019 | 17/05/2019 | 28/06/2019 |
| Top Posts |
|---|
Posted at 18/4/2024 14:05 by skinny "Rising interest rates have now intensified the struggle. Saga will have the firepower to repay a maturing £150 million bond with a coupon of 3.375 per cent next month, but only by partly replacing it with an £85 million personal loan from chairman Sir Roger de Haan, who is charging interest of 10 per cent, almost three times as much, and yesterday agreed to extend the facility by another four months.The crunch year now will be 2026, when Saga is required to pay back Sir Roger and find another £250 million to repay an unsecured bond." |
Posted at 09/4/2024 08:47 by spig69 Gripfit - website for Saga says Wednesday the 17th April. Full year-end results for year-ending Jan 2024. Not long to wait now.... |
Posted at 09/2/2024 16:21 by rmillaree saga struggle to make great profits when they keep all the "profit" - if that profit is split between them and another party one would expect profits might halve if they split down ten middle ? and whats to stop the ship ownerr ditching saga and getting some cheap outfit without the overheads to lease em. Not saying they might not sign a good deal but it all kinds sounds like necessary talk with 2026 bondholders in mind rather than plan from position of strength. |
Posted at 06/2/2024 23:10 by fjgooner I am assuming that the investment world is now perverse.A couple of years ago, when results were FAR worse and transparency going forward was utterly lacking, Saga was trading between 300p and 400p. If I recall correctly the CEO bought £200,000 worth of shares at just under £3.90. Now, with travel almost fully on track and cruise booming, why all this gloom from the markets? Insurance has been under pressure over the last couple of years, but all the talk in the media over the last couple of days has been about motor policy prices rocketing. So why the gloom? See: sharecast.com/news/n Saga says annual profit set to more than double Saga said on Tuesday that it expects full-year underlying pre-tax profit to more than double on the previous year as it hailed an "outstanding" year for the cruise and travel businesses. In an update for the period from 1 August 2023 to 29 January 2024, Saga - which specialises in products and services for the over-50s - said it now expects revenue growth of between 10% and 15%. Ocean Cruise revenue is expected to grow by around 30% year-on-year, it said, delivered through a load factor of 87% and per diem of £331, both significantly ahead of the 75% and £318 seen a year earlier. As a result, and in line with previous guidance, the group expects to exceed its target of £40m Ocean Cruise trading EBITDA per ship. Meanwhile, the river cruise segment is expected to return to underlying profit, supported by a load factor of 85% and a per diem of £285. This equates to revenue of around £44m and 17,000 passengers, up from £29m and 12,000 a year earlier. Travel revenue growth is expected to be between 40% and 45%, with 58,000 passengers, up more than 20% on the prior year. In line with previous guidance, travel - when combined with the river cruise business for consistency with previous reporting - is on track to return to pre-pandemic underlying pre-tax profit, it said. Chief executive Mike Hazell said: "For 2023/24, Saga remains on track to deliver significant growth in revenue, in addition to an underlying profit more than double that of the prior year, exceeding our previous guidance. "Our cruise and travel businesses have had an outstanding year, having taken around 120k passengers on holiday, with customers continuing to be drawn to the strength of the Saga brand and offer. As a result, these businesses will return to profitability, in line with expectations. In insurance, the market-wide inflationary environment and declining policy volumes are continuing to impact our performance. "The year ahead will see a continuation of these trends across our business. Bookings for the new seasons in cruise and travel are robust, showing good overall progress." Saga confirmed at the end of last week that it was considering options for its cruse business, including a partnership arrangement. |
Posted at 26/1/2024 07:21 by aishah Saga plcResponse to Media Coverage Saga plc (Saga or the Group) notes recent media coverage. Saga is committed to providing best-in-class products and services to its customers across all its businesses. The Board is exploring opportunities to optimise Saga's operational and strategic position in Cruise, where exceptional demand for its boutique ocean cruise offer means it is operating at close to capacity. It has concluded that a partnership arrangement for Ocean Cruise would be consistent with Group strategy to move to a capital-light business model to support further growth and crystalise value, reduce debt and enhance long-term returns for shareholders. No decision has yet been made and there can be no certainty that any partnership agreement will occur. A further announcement will be made in due course, as appropriate. |
Posted at 01/12/2023 21:09 by hope1815 Jubberjim you missed a few things from the Article1-His departure and the state of Saga’s finances have prompted questions about the company’s future: Can new management get the company back on course? Or will it fall into the hands of a rival or back to private equity? 2-The collapse in Saga’s valuation may prompt speculation that it could be the target of a possible takeover bid as foreign buyers swoop on unloved British assets. Yet the sky-high debts make this unlikely: any buyer would also be on the hook to repay all that borrowing. This bit is not tackled as a similar Article in the Telegraph/Times/ etc shows Saga Plc as a target by EY-Parthenon. In the meantime, the UAE has taken an interest also. It is its Revenue without Debt is very appealing in the medium to long term. Refer to on EY-Parthenon. 23/10/2023 20:58 Hope 1815 If you look at the wider picture Saga Plc with no debt a growing market within the UK, a change in insurance to a broker model, Cruise holidays, and a Specialized target of rich clients in the USA side with that special touch. The group's Asset Value is more than the debt, its market share is like a moat, and it has just been drifting with no clear agenda to move forward. It is not if a bid comes in, it is when. Just hope De Haan can see how the company can move forward. |
Posted at 28/11/2023 07:41 by hope1815 Financial Times 4 minutes agoThe chief executive of Saga, the UK insurance and travel business focused on customers over 50, has resigned after nearly four turbulent years that included the disruption caused by the Covid-19 pandemic. Euan Sutherland will be replaced by Mike Hazell, currently the group’s chief financial officer, who joined the group just last month, Saga said on Tuesday. Sutherland had told the board earlier this year of his intention to step down. Demand for the group’s cruise business has recovered since pandemic interruptions but its insurance division has suffered from spiraling inflation in the cost of claims, prompting the group to pursue a sale of its underwriting division. Sutherland said he was proud of what he had achieved at the group, and chair Sir Roger de Haan praised his “enormous contribution” in stabilizing the business. New CEO Mike Hazell former CFO Mike is a chartered accountant and an established CFO with over 25 years’ experience across a number of industries including retail and consumer services. Mike held a number of leadership roles at Debenhams over a period of 12 years, starting as Group Treasurer and moved on to CFO and ultimately CEO of the business. He trained at Pfizer before spending time in the global dairy sector with Fonterra, and media telco with Sky. New CFO Mark Watkins Mark was Finance Director of PRD Division at Secure Energy Services, and Group Financial Controller at Bovis Homes. Mark Watkins joined Saga in 2016. Mark served as Finance Director, Travel and Treasury and Director of Corporate Development for Saga. Now moved to CFO on the 28 November 2023 Trading Update Tuesday 30 January 2024 |
Posted at 23/10/2023 21:58 by hope1815 EY-Parthenon with its PE arm and how to work Bonds. Presently Saga Plc has 2 Bonds outstanding.1 Saga PLC 3,375% 17/24 which Matures 12 May 2024 Current price 95.77 2 Saga PLC 5,5% 21/26 which matures on 15 July 2026 Current price 79.475 Understanding private equity funds may acquire private companies or public ones in their entirety, or invest in such buyouts as part of a consortium. Private equity firms and funds invest in mature companies. They manage their portfolio companies to increase their worth or to extract value before exiting the investment years later. So the question is why would EY-Parthenon be interested in Saga PLC? With Private Companies where they are based is important for reasons of debt, Leverage, etc. It depends on the strategy PE wants to pursue. The understanding PE if they want a return on Capital over a period of time Saga Plc fits their outlook. Saga Plc itself is presently in the Market which caters to 50 plus and increasing market size. It has a moat from a business sense. It is expanding its brand across the world with various Travel opportunities. They have probably done a strategic review of the company from public records, and trading updates and watched various presentations from the Company. They can see potential in the company if run properly. It is cash-generative which is a plus, the Company in the past has tried and failed to offload different Assets. The company is worth more in Assets presently than its Market Cap by a big margin and sees it has the opportunity to increase its market brand while offloading Asset sales. In the meantime will the chairman be persuaded to sell or a joint venture to take private? |
Posted at 24/1/2023 07:06 by skinny Saga plc (Saga or the Group), the UK's specialist in products and services for people over 50, provides the following update on trading covering the period from 1 August 2022 to 23 January 2023.Highlights -- We remain on track to report an Underlying Profit Before Tax of between GBP20m and GBP30m, in line with previous guidance. -- Revenue for the Group is expected to be between 40% and 50% ahead of the prior year, driven by continued Cruise and Travel recovery following the pandemic. -- Our Ocean Cruise business achieved strong load factors and per diems in the second half of the year with an encouraging pipeline of bookings: o Load factor for the second half of 2022/23 is expected to be 84%, delivering a full year load factor of around 75% which is in line with guidance and compares with 68% in the prior year. o Per diem for the full year is anticipated to be GBP318, also in line with guidance and compares with GBP299 for the year ended 31 January 2022. o These metrics, when combined, result in expected year-on-year revenue growth for 2022/23 in excess of 100%. o Our booking position for 2023/24 is strong, with a load factor and per diem of 60% and GBP337 respectively at 22 January 2023. -- Following its successful relaunch earlier this year, our Travel business delivered significant growth in revenue with strong bookings for next year: o In 2022/23, revenue will have increased tenfold when compared with 2021/22 however, after allowing for marketing and administrative expenses, the business will report a small underlying loss before tax for the year, in line with guidance. o Our 'Tailor-Made by Saga' proposition has been expanded to include 15 new worldwide destinations, self-drive and motorhome holidays, ahead of the full launch in February 2023 . o Touring bookings for the 2023/24 year are strong, with increased demand for long-haul destinations. Incoming call volumes over the first three weeks of January are also ahead of pre-pandemic levels. o At 22 January 2023, booked revenue for 2023/24 was GBP110m which is 13% ahead of the same point last year. -- Insurance Broking is expected to be broadly in line with guidance: o Total policies in force, at 31 January 2023, are expected to be 3% behind the prior year, with policy sales also 3% behind. o Customer retention continued to improve across motor and home in the second half, now at 84% and 1ppt ahead of the prior year. o Our motor and home margin per policy is expected to be around GBP71. o Travel insurance is expected to deliver more than 200% growth in revenue vs. the prior year, with policy sales increasing by more than 95%. -- Insurance Underwriting, in line with the wider market, continued to experience high levels of claims inflation which we estimate to have averaged 13% for the year as a whole: o The underlying current year combined operating ratio for the full year, excluding quota-share reinsurance, is expected to be around 125%. This is higher than previously forecast, mainly due to a modest increase in claims frequency and an above-average level of current year large losses. o This is largely offset within our result by quota share reinsurance recoveries and favourable development on prior year large losses, albeit, in line with previous guidance, prior year reserve releases in the second half are expected to be materially lower than the first. o We continue to focus on reducing the current year combined operating ratio as prudent double-digit increases to pricing begin to flow through to earned premium. -- Saga Money delivered top line growth and increasing customer numbers when compared with the prior year, supported by incremental TV and media advertising. -- This morning, our Media business launches Saga Exceptional, a brand-new website containing best-in-class consumer advice and inspirational stories that celebrate the 'Experience Generation'. Further details, including how Media will act as a pipeline for customers into the Group and also become profit-generative in its own right, will be presented at this afternoon's Capital Markets Event. -- Available Cash is expected to be around GBP140m at 31 January 2023 and net debt, at the same date, is anticipated to be slightly higher than at 31 July 2022. -- We have concluded discussions with our lending banks to amend the covenants in relation to our revolving credit facility (RCF), providing us with greater flexibility in relation to liquidity used for short-term working capital purposes. Euan Sutherland, Saga Group Chief Executive Officer, commented: "Saga continued to demonstrate progress in the second half of the year, delivering a trading performance which is broadly in line with expectations. Our Ocean Cruise business saw strong customer demand and an encouraging pipeline of forward bookings while, in Travel, we launched our new digital offer and continued to expand our range of products. We continued to navigate a challenging period for the UK motor insurance market and, although there has been some pressure on our Underwriting business, our Retail Broking result will be in line with expectations. "Overall, we are well-placed to continue our growth as we make progress against our three-step plan which is focused on maximising our existing businesses, step-changing our ability to scale while reducing debt and positioning Saga as 'The Superbrand' for older people in the UK." Capital Markets Event As detailed in our separate announcement this morning, management will be holding a Capital Markets Event for institutional investors and analysts at 3.00pm today in London. If you would like to attend, please email saga@headlandconsult |
Posted at 05/7/2022 21:00 by sambuca An interesting article from Money WeekSaga’s figures are heading in the right direction – so should you buy? Saga the over-50s travel and financial services specialist, has been struggling for years. But now, with the pandemic behind, it it is planning for future growth. Rupert Hargreaves looks at where it went wrong and asks if the shares are now worth buying. by: Rupert Hargreaves 5 JUL 2022 Saga Sapphire cruise ship Saga spent huge sums on new cruise ships just as the pandemic arrived. Saga (LSE: SAGA), the over-50s travel and financial services specialist, has been struggling for the best part of the past decade. Thanks to some strategic mis-steps in insurance, the company entered the pandemic in poor shape, debt was high and sales had been declining for five years. Further, in the years before, it had spent huge sums on new cruise ships to bulk out its travel and holiday business. Just as these vessels were supposed to come online, the pandemic arrived. In total, Saga has lost £571m over the past four years – nearly two and a half times its current market value. Still, it looks as if the business is on the way to getting back on track, although you wouldn’t know it from the share price. The stock has slumped 55% over the past 12 months. Since the end of 2019, it’s down by 78%. Refinitiv analyst estimates have the firm earning a profit of £35.7m this year, in line with Saga’s own trading projections. According to its latest trading update, management now expects full-year profits to come in at £35m to £50m. It also looks as if the group has put its balance sheet issues behind it. After raising around £400m last year through a share placing and bond issue, Saga is now expecting leverage to start falling in the second half of the year with the ambition of repaying a £150m bond when it falls due in 2024. In January, the group had a cash buffer of £187m to support its operations. Saga’s market share should help the company prosper Ever since Saga went public in 2014, I have been fascinated by the business. In theory, it should be raking in cash. The Saga brand is well trusted by its main market, the over-50s, and the size of that market is growing steadily. According to the latest UK census figures, the number of over-65s in the UK and Wales has reached record levels. And unlike other market segments, the wealth of the over-50s is booming. One in four pensioners in Britain is now a millionaire thanks to soaring property and pension values, according to government data. These are the sort of market advantages many companies can only dream of. So, where did Saga go wrong? Most of the group’s problems stem from its insurance business. The UK home and car insurance markets are well developed and highly competitive. Yes, Saga has an edge over some of the market, but it is working against big, strong competitors. Insurance can also be a tricky business if companies don’t get their sums right, and this is where Saga has tripped up in the past. Still, management has been working hard to get the insurance arm back onto a stable footing and these efforts are paying off. Policy margins have stabilised, new products are performing well and recurring revenue is growing (which is good news, as this has a far lower cost for customer acquisitions). Thanks to all of these initiatives, management is projecting a long-term combined ratio for the group of 97% (a ratio below 100% indicates an underwriting profit). Any insurance company that can sustainably earn a combined ratio of less than 100% on a repeat basis is doing something right. For example, according to consultancy EY, the overall UK car insurance market could see a combined ratio of as much as 113.8% this year and 111.1% in 2023 due to higher costs and stagnant premiums. Cruising back into profit As the insurance business gets back on its feet, the holiday and cruise business is also showing signs of strength. While there’s still some disruption across these two divisions, Saga is projecting an ocean cruise load factor of 67% for the first half of 2022. It is also now forecasting a load factor of 83% for the second half and 75% for the full-year. With a daily rate of £319 from paying customers, compared to just under £300 last year, the business is clearly making headway. The holidays business (comprising Titan Travel and Saga Holidays) is also improving in line with the rest of the global travel industry, although management still expects a loss for the year. Nonetheless, the latest trading update clearly shows that Saga is putting the pandemic behind it and planning for future growth. The company could face growing pains in the future That said, despite its improving outlook, I’d be wary of rushing headlong into this stock. Saga has plenty of attractive qualities, but as I’ve pointed out above, its main profit centre today is insurance, and this is a tough industry. The organisation is going to have its work cut out to keep on top of the sector and achieve further growth. Indeed, management is already expecting the profit margin on each insurance policy to fall in the next financial year, costing £20m to £21m in annual profits. The travel business will have to pick up the slack here. Based on its own projections and Refinitiv analyst earnings estimates for the current fiscal year, the Saga share price is selling at a forward price/earnings (p/e) ratio of 6.5 falling to 3.8 next year. That looks cheap on the face of it, but there’s a huge amount of uncertainty here. I think it’s unlikely the market will re-rate the stock to a higher multiple until the group is firmly back in the black. Sam |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
