Saga Share Discussion Threads

[diku] 12/6/2019 09:08

Market thinking a profit warning in the pipeline next week hence today's RNS brought forward...and a muted response from yesterday's RNS...they keep on talking up about the 3 year Insurance and new ships only which is jam tomorrow further out...




In April, we announced the introduction of 'three-year fixed price' Home and Motor Insurance products and on 5(th) July we will launch our new Cruise ship, the Spirit of Discovery. Early progress in Insurance Broking is encouraging and we will provide a more detailed update at the AGM next week. These developments demonstrate that Saga is a strong business with an attractive future."

[hernando2] 12/6/2019 09:03

The agm/trading update on the 19th needs to show something positive now, rather than 'plans are being implemented to improve in the future' type of thing.

The CEO looking like he has had to go through lack of support, the share price dropping rather than increasing...is a bit of a negative for me, but the share price could change direction and finish up.

If it does that then it might point to things being not so bad.

[diku] 12/6/2019 08:58

Guys how this has been played out...don't you get it ...yesterday the Marcus RNS and today CEO RNS...they were probably expecting positive market reaction yesterday unfortunately it failed spectacularly...

[glavey] 12/6/2019 07:51

Luzley
11 Jun '19 - 10:22 - 2012

"With all the icebergs now behind the Saga vessel and good navigation skills I see calmer waters ahead and a bright horizon."

Has it not occured to you that the vessel is going astern!!.

[glavey] 12/6/2019 07:44

So, now confirmed that he (Hon Commander Lance Batchelor RNR) wouldn't have survived the AGM. But also suggested that the chairman hadn't planned for this as succession process only 'started' now, not two (or more) months ago! Expected to take up to Jan. 2020 when present CEO will, ahem, retire. That still leaves a great deal of uncertaintly over the next 8-9 months. What amount of 'kitchen sinking' might take place at the end of this financial year?

[buywell3] 12/6/2019 07:35

Did you not realize that if you stay with your insurers they penalize you in respect of what deals they offer newbes ?

Being loyal to insurers is an act of stupidity ... I change mine every year.

Re the CEO being retired

He was the guy who dreamed up the cruise idea was he not ?

I wonder what the new CEO will think ?

[luzley] 12/6/2019 07:30

This should finally stop the rot and revert to growth with a prudent decision on succession. I am sure there are many suitable candidates given the spring-clean that has just happened. All the foundations are in place for a visionary.

[edmondj] 12/6/2019 07:29

"Lance has led Saga with a resolute focus on reinvestment and rebuilding a truly customer centric organisation. On behalf of the Board, we are grateful for his contribution and wish him every success for the future."

An overall "good" 3.94 rating out of 5 on a reviews website although these, as the first few:

hxxps://www.reviews.co.uk/company-reviews/store/saga

Tom

VERIFIED REVIEWER
"Had SAGA car insurance for years. Went to change my car 5 months into the policy and they advised me this would increase my premium to £81 pounds a month for the remaining 6 months, making a total of almost £750 pounds for the year for a 60 year old driver with 10 years no claim and no convictions. Went into their website and not only was I driving a cheaper car to insure, but the total for the entire years insurance was £300. Blatant rip off attempt - cancelled insurance same day and went with different company, will also be cancelling my home insurance policy"
Posted 6 days ago

Robert Thurston

VERIFIED REVIEWER
"Only once in the last 49 years that I made a claim(emergency) this was with SAGA. The way it was dealt with was appalling! It took nearly 6 weeks to address my complaint, not to mention the fact that they said they did not receive my letters. One of which I sent to their CEO Mr Lance Batchelor. I will never deal with this company again, and I will advise anybody to do likewise."

Anonymous

"Tried to make an early payment and was told this was not possible, if I was in arrears , which I'm not , they would have taken my payment"

Chris

"We suffered storm damage to a dovecote on our roof, leaving a very large hole and the roof not weatherproof. I was also concerned that birds/vermin could get into my loft. Nothing was done to progress my claim despite the fact that I repeatedly advised that an urgent temporary repair at least was needed to make the roof weathertight. 10 days later, still nothing had been done to help me get a repair done. Meanwhile the weather had taken a turn for the worse and we experienced heavy rainfall. I therefore had no choice but to pay for the repair myself and I've now made a complaint to Saga. I haven't made an insurance claim for many many years, in fact I can't remember when I last made any claim. I took out this policy with Saga expecting to receive a good customer service from them if I needed it, but have been seriously disappointed. I strongly advise against taking out a policy with this company!"
Paul Clark

VERIFIED REVIEWER
"Purchased Home and contents insurance for my very elderly in-laws ,who do not have or wish to have internet ,WiFi etc ,so requested the policy is sent by Royal Mail. They are STILL waiting and after three phone calls chasing this up ,There STILL waiting ,NOT VERY IMPRESSED.Should be sorted by now !!!!!!!!."

Anonymous

VERIFIED REVIEWER
"It was really easy to switch, I selected it and all the documents were sent to me on line and I was insured with them, no problems and my payment was set up."
(Home Insurance) -
BrendaIlkley

VERIFIED REVIEWER
"It was an easy process to receive an acceptable quote and agree to the terms and conditions on offer.
All documents received immediately. Very pleased with every aspect of the purchase."
(Car Insurance) -
Anonymous

VERIFIED REVIEWER
"Same as with all companies, better quote because new business. In my opinion a rather stupid way to operate but I'm only a customer ; and who cares about them?"
(Car Insurance)
Anonymous

VERIFIED REVIEWER
"good"
(Car Insurance) -

VERIFIED REVIEWER
"Trying to download my car insurance details for the past hour ..... apparently there is a problem with a missing button on website so not available and wont be for 7 days. Unfortunately the guys on chat were not aware of this problem. The O800 helpline doesn't work and even the survey post call doesn't register key hit answers. I am not saying the actual product is necessarily bad but they don't seem to be set up as an on-line service business which is disappointing. Will receive details in post"

[luzley] 12/6/2019 07:26

Ignoble.....spot on....that's the key. Customer service backed up by branding of reliability, safety, integrity and...........adventure! Saga needs to represent today's over 50's with freethinking outside the convention ideas. It really can lead change in the wider demographic spread.

[luzley] 12/6/2019 07:22

New captain for Saga from Jan 2020..........lets have a real visionary with impressive leadership skillset.

[edmondj] 12/6/2019 07:11

Retiring at 55. Like some policemen etc in the elite public sector.

[ignoble] 12/6/2019 07:11

Ii have used Saga a lot over the years
Brilliant then for us over 50s
Exceptional Customer Service in those days which kept me loyal to the brand. That seems to be lacking these days.

Shame because in my opinion
Customer Service was their massive strength
They were brilliant in their day

I don't have a stock position but am keeping an eye

[dealy] 12/6/2019 07:07

CEO stepping down in January. Positive outlook. Good day today?

[edmondj] 12/6/2019 05:03

Too early for projections re. the upshot from the Goldman partnership but it seems a good move: Marcus is a solid straightforward dependable product. If only Goldman would get into online share dealing and inject some proper competition.

To be fussy though: what will be the incentive to go through Saga, as Goldman could cannibalise its own product if offering Saga customers a better return or other 'white product' offerings it doesn't directly. We shall see.

[diku] 11/6/2019 22:46

Hope so for the sake of loyal customers/shareholders....

[careful] 11/6/2019 22:34

We need eps of about 60p to make this share [rice rise.
A far cry from the 180p of recent years.

The management is doing the right things.
I feel this will be turned around.

A ridiculous over reaction.

[sharebuddy1] 11/6/2019 21:26

Any figures available for increase in revenue and profits from the Goldman partnership?

[edmondj] 11/6/2019 21:06

Mr Batchelor has embarked on a new plan to cut prices — and margins — to encourage customers to stay loyal, and to advertise more. The company has also invested in its cruise ships, the first of which is due to launch this summer.

Nick Johnson, analyst at Numis, said Saga could still struggle to achieve its plans.

“If motor insurance remains competitive, we don’t know if the margin reset will be enough,” he added.

“In cruises they have an 80 per cent increase in capacity over the next two years. They need to fill that. We don’t know whether that will be achievable.”

[pander45] 11/6/2019 21:04

This has further to fall imho.

[diku] 11/6/2019 20:58

Unfortunately the damage is done...50 and over age group people are not stupid...the 50 and over of today will have seen the tech boom and bust cycle of 2000 and the financial crisis of 2007 - 2008...and now with the overly hyped Saga IPO gone sour...if they bought the shares at IPO and if they looked at the share price today what reaction do you think you will get?...confidence dented no matter how much gimmick glossy deals you come up with like today's RNS...

[careful] 11/6/2019 20:51

cross selling opportunities.
banking/insurance/leasure.

[justiceforthemany] 11/6/2019 19:39

I suspect you get a higher savings interest rate if you become a Saga member or take up a Saga product.

[diku] 11/6/2019 19:17

So what exactly does Marcus bring to Saga party?...is it going to be money off vouchers for a cruise if you open an account with Marcus?...

[diku] 11/6/2019 19:15

Maybe on a jolly good cruise holiday!...


optomistic11 Jun '19 - 17:03 - 2034 of 2036
0 0 0
I emailed Mark Watkins over a week ago...no response.

[buywell3] 11/6/2019 18:21

Yes

The market has spoken