Company
Saga PLC
LON:SAGA
Saga Group plc is a British company focused on serving the needs of those aged 50 and over. It has 2.7 million customers. Saga Holidays provides package holidays and tours across the globe. It owns and operates the cruise ships MS Saga Pearl and MS Saga Sapphire and also owns and operates the Bel Jou Hotel in St Lucia, as well as Titan Travel.Saga Services provides a wide range of Insurance products - Motor, Home, Travel, Caravan, Commercial Van, Pet, Private Medical, Life Insurance, Motorhome and legal services.Saga Personal Finance provides savings accounts, credit cards, travel money, financial advice, equity release, share dealing, annuities, life assurance & long term care funding advice.Allied Healthcare is a sister company providing domiciliary care nationwide.
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Saga results seen positive on recovering travel
Saga will report interim results on Wednesday 27 September
Saga cuts guidance on insurance pricing inflation
A first-half underlying profit of £14mln compared with a loss of £2.8mln a year ago thanks to the restarting of international travel
Saga on track for return to profit as cruise demand rebounds
Cruise bookings this summer have been "exceptionally strong"
Saga draws up contingency plans for possible delay in UK COVID-19 reopening schedule
Contingencies include plans to operate for a short period with fewer guests
Saga shares rally as over-50s look forward to Covid-19 freedom
It is clear that there is significant pent-up demand among our customer base, the vast majority of whom have now been vaccinated"
Saga renegotiates its banking covenants
The cruise ship debt deferral runs to the end of March 2022
Saga looking for £170mln loan package ahead of cruise restart
Talks are ongoing and some way from being agreed, said the report
Saga in talks with lenders as tours remain on hold due to coronavirus restrictions
Year-end net debt stood at £785mln, up £139mln since the end of July after receiving delivery of the Spirit of Adventure cruise ship
Archive
FTSE 100 ends just above water; Wall Street cools off after hot start
Investors in New York have left markets little changed as they await quarterly results, with Microsoft to kick off the big tech earnings train later today
Saga's new chapter and UK unemployment numbers in focus for Tuesday
Britain's unemployment rate is expected to rise above 5% in the three months to November, but December's jobless claimant numbers are seen hitting 7.5%
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Airlines, drinks and big US names the key news in coming week, Fed decision eyed
Firms in the diary include Wizz Air and easyJet as well as Guinness owner Diageo and Irn-Bru maker AG Barr
Saga unveils new strategy after slumping to loss in first half
Restructuring costs and a large goodwill write-down of its travel business led to a statutory loss before tax of £59.8mln
Saga shares soar after former owner backs £150mln investment plan
Roger De Haan was chief executive and chairman of Saga for 20 years before his family sold the business to private equity group Charterhouse in 2004
Saga has ‘strategic options to bounce back’, says broker as cruise firm highlights resilience of insurance business
The company said insurance had performed well across its home, motor and private medical segments, although this had been partially offset by an expected reduction in sales of travel insurance
Saga shelves dividend but says insurance business provides coronavirus flexibility
If the travel business is shut until August or September, management reckon that even with a slow recovery in demand from then the group should remain buoyant
Archive
FTSE 100 closes ahead as oil gushes higher after Trump tweet
It has been a topsy-turvy day. The market is currently more topsy than turvy.
Archive
Saga in the spotlight as over-50s operator is set to update on coronavirus impact
The over-50s travel specialist is among few names pencilled into the City diary for Thursday 2 April.
Saga predicts £15mln hit as it suspends cruises amid coronavirus pandemic
The provider of holidays and insurance said its voyages will stop for six weeks after the UK government advised against cruise travel for people over the age of 70
Saga slides as coronavirus weighs on cruise and tour businesses
The two divisions of the over 50's travel and insurance firm were being hit by falls in passenger bookings as holidaymakers stayed home to avoid infection
Saga delays sale of tour operator unit amid coronavirus turmoil
Its Titan Travel business was valued at £100mln and had attracted interest of private equity firms
Saga sells motorcycle insurance broker Bennetts for £26mln
It is the first disposal since Euan Sutherland joined as chief executive in December
Saga on track with cruise back to familiar strengths
The collapse of Thomas Cook is expected to result in a £4mln hit to underlying profit
Saga's new boss primed for activist tussle
Activist hedge fund Elliott was revealed in the summer to have built up a 5% stake in the over-50s group
Superdry gets small bonus as Saga hires former boss
Sutherland received a pay-off of £730,000 when he walked away from Superdry, but the contract stipulated the amount will decrease if he found another job within a year
Saga ponders potential asset sales - report
The over-50s specialist is under pressure from activist investor Elliott Advisers, which built up a stake during the summer's all-time low
Saga creaks to new low as travel woes offset insurance turnaround
The over-50s specialist made progress with new three-year insurance policies, but overall retail broking policy volumes were down 6% and gross margins were lower
Archive
FTSE 100 slips at close as investors brace for US Fed decision
All eyes will be on the statement from Fed rate setters later, especially due to the pressure to lower rates from President Trump
Archive
Fed rate decision to dominate on Wednesday, UK inflation figures provide flavour ahead of BoE
While the market seems expectant around the possibility of a rate cut from the Fed, economists at RBC Capital have said the chance of one in June seems “extremely premature”
Investments and investor services
FTSE 100 closes higher Monday, just, as traders sit on hands
Footsie closed around 11 points higher at 7,357 at the start of the week, while mid-cap cousin FTSE 250 gained over 39 points
Archive
Federal Reserve rate decision to dominate in week ahead, with BoE meeting likely to be dull
The corporate diary is fairly sparse, but there are some bright spots, notably updates from refocused blue chip hotels group Whitbread and housebuilder Berkeley Group
Saga Group boss to retire after tough year for over-50's specialist
Since it floated in 2014, Saga has shed about four-fifths of its value.
Saga Group partners with Goldman Sachs to launch savings products range
Goldman Sachs launched Marcus in the UK in September 2018 and has attracted over 250,000 customers
Investments and investor services
FTSE 100 closes higher despite continued trade fears
China has pledged to spend more on infrastructure to offset any downturn caused by Trump’s trade tariffs
Hastings and Saga shares boosted by JP Morgan upgrade
Hastings is a relatively young company that has the advantage of being designed for the price comparison website era, JP Morgan said
Saga shares slide as UBS downgrades stance after profit warning
UBS cut its rating on Saga to ‘neutral’ from ‘buy and its target price to 65p from 150p.
Saga investors turn grey as shares plunge amid worries it may be losing its appeal to over 50s
Tough competition, regulatory changes and the dominance of price comparison websites have hit Saga's insurance business
Investments and investor services
Andalas subsides after finance director resigns
A look at the day's major movers, including Gordon Dadds, Motif Bio, Proton Power, Regal Petroleum, Saga and Xeros Technology
Saga Group slashes dividend as it warns insurance turnaround plan will hit profits
Saga's plans to launch a new three-year fixed price product to lure in more customers will hurt margins
Investments and investor services
FTSE 100 closes in positive territory, boosted by better-than-expected US March jobs figures as Brexit uncertainty continues
Mid-cap cousin FTSE 250 was also lower, shedding around 56 points at 19,507
Archive
Lloyds and other ex-dividends to knock 11 points off FTSE 100 on quiet Thursday in the City
Away from the ex-divs, Saga, Electrocomponents and EntertainmentOne are all due to come to the market with trading updates or results
Saga reportedly mulling £100mln sale of two holiday businesses
According to reports, Saga has hired Duff & Phelps to gauge interest from potential suitors for its Titan Travel and Destinology brands
Saga shares plunge as JPMorgan downgrades stance and questions dividend sustainability
The US bank cuts its rating on Saga to ‘underweight’ from ‘neutral’ and reduced its target price to 120p from 140p
Investments and investor services
Petra Diamonds sparkles after another discovery at Cullinan
A look at the day's major movers, including Big Sofa, Reachforentertainment, Northamber, InfraStrata, GLI Finance, 7digital, Brave Bison and Baron Oil
Saga trading in line with expectations despite competitive insurance market
Saga said falling average premiums and some upward pressure on net rates in the home insurance arm hurt broker revenue and profits.
Housebuilders in focus as Barratt Developments and Bellway update on trading
The week ahead includes full year results from Bellway and ASOS, interims from Gear4Music and trading updates from Barratt Developments, Segro, Unilever, Domino's Pizza and Rentokil
Saga upgraded by UBS as investor sentiments recover
Swiss bank UBS sees upside for the specialist insurance and travel group, with a 'buy' rating
Saga reports healthy bookings for new cruise ship ahead of maiden voyage
Construction is on track, with the keel laying this summer, said Lance Batchelor, chief executive
FTSE 100 closes in positive territory as US dollar builds on gains
The pound is off 0.52% against the greenback at the time of writing..
Investments and investor services
TUI and Saga set for Thursday’s spotlight
Holiday operators TUI and Saga will update the market on Thursday, though expectations aren't at all high.
Saga says seasoned insurance executive James Quin to be its group chief financial officer from 1 January 2019
The FTSE 250-listed firm said Quin's most recent role at Zurich has been as UK chief financial officer, spanning the UK Property & Casualty and Life Insurance operations
Saga Group in "steady as she goes" update
"The group's targeted investment in customer growth is driving both our Saga branded policy count and cruise bookings," the group said
Investments and investor services
FTSE 100 closes in red as speculation swirls on August rate rise
The rise in sterling hit the dollar- earning constituents of the FTSE 100
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Dixons Carphone to report slump in profits, Bank of England to stand pat on rates
Markets are pricing in a 3% chance that the Bank of England will raise interest rates, making it "about half as likely as England winning the World Cup", said Hargreaves Lansdown
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Dixons Carphone has already had a kicking so investors will be hoping full-year numbers provide some relief
The Week Ahead also includes updates from blue chips Ashtead Group and Ferguson, plus mid-cap housebuilder Berkley Group, and the latest Bank of England interest rate decision
Saga shares bounce back as full-year profit sees small rise, says travel business has “excellent” visibility
For the year ended 31 January 2018, the FTSE 250-listed firm said its underlying pretax profit rose to £190.1mln, up from £187.4mln a year earlier
Investments and investor services
FTSE 100 closes near flat as Middle East tensions cool
The UK blue-chip benchmark closed 1.20 points, or 0.02% at 7,258..
Archive
Travel sales set to dominate at WH Smith once again on Thursday; Hays and Saga also due up
It looks like it will be the same old story for WH Smith, with sales flying in travel but challenges remaining in its high street stores
Archive
Retailers and recruiters in focus as Tesco, ASOS, Hays and PageGroup report
The week ahead includes full-year results from Tesco and Saga, interims from ASOS, WH Smith and McCarthy & Stone, and trading updates from Robert Walters, Hays and PageGroup
Changing horses: Paddy Power Betfair poaches new CFO from Saga
The FTSE 100-listed bookmaker said Jonathan Hill will replace outgoing CFO Alex Gersh, who announced his intentions to step down in early March
Saga appoints Old Mutual’s O’Sullivan as new chairman
In a separate statement, Old Mutual said that O’Sullivan will continue in his role as the group’s chairman until its management separation process has been concluded
Saga restructures travel unit in wake of December warning over Monarch Airlines collapse
The FTSE 250-listed firm said that Robin Shaw, previously CEO of Saga Cruises , has been appointed CEO of Saga Travel, heading both the tour and cruise operations
Saga shares fall as RBC downgrades stock and sees 'little earnings growth' until 2021
RBC cut its rating on the stock to ‘sector perform’ from ‘outperform’
FTSE 100 closes in positive territory but off session highs
The UK blue chip index closed around seven points higher at 7,544, below the day’s peak of 7,563
Goldman Sachs cuts rating for Saga Group to ‘neutral’ from ‘buy’ after recent profit warning
Goldman’s analysts said they believe the fall in Saga’s profit guidance is “primarily the result of structural rather than cyclical factors”, and therefore they expect the firm to “face ongoing challenges”
Saga shares plunge after profit warning raises questions of trust for over-50's insurance and travel group
Saga’s shares had plunged by 23% in value in afternoon trading - a 41.9p drop to 139.4p - after the FTSE 250 listed firm said it now expects its full year growth in underlying profit before tax to be in the region of 1-2%, compared to the 5
Tricorn Group encouraged by pipeline of new opportunties
As one might expect of a manufacturer and specialist manipulator of pipe and tubing assemblies it is all about the pipeline
Saga warns of more “challenging trading” in insurance broking, Monarch collapse impact on travel
In a trading update, the over-50’s travel and insurance specialist said it expected its full-year underlying pre-tax profit to grow by just 1%-2%
FTSE 100 closes in positive territory, bolstered by weak pound
Footsie closed over 20 points higher at 7,348, benefitting as usual from the weaker pound.
Long-serving Saga chairman to step down next year
Andrew Goodsell intends to have handed over the reins to his successor by next May after 26 years with the insurer
Saga goes down VIP route to stem high-spender decline
Possibilities, new VIP membership scheme, gives it a ‘more powerful toolkit’ to reward high spenders and grow their number
FTSE 100 enjoys afternoon boost from May's speech
London's FTSE 100 strengthened on Friday afternoon following Theresa May's speech in Florence.
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Theresa in Florence: Key Brexit speech from UK prime minister eyed on Friday
Day ahead includes keynote speech in Florence on Brexit from UK prime minister Theresa May, plus updates from Smiths Group PLC and Saga PLC
Over-50's specialist Saga says core insurance, travel businesses continued good start to the year
Saga’s chief executive officer, Lance Batchelor, said: “We remain on track to deliver on our strategic objectives, including the launch of our membership scheme, Saga Possibilities, which will go live later this year."
FTSE 100 closes higher on historic Brexit trigger day
Donald Tusk, the president of the European Council, will publish a short statement acknowledging that Article 50 has been triggered