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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 Group -

Saga PLC (LON:SAGA) shares showed the market was not impressed by reports that the over-50s-focused travel and insurance group could sell off its care arm.

The FTSE 250 group, which already has slashed its dividend after swinging to a loss this year, is under more pressure from activist investor Elliott Advisers, which built up a stake after the shares hit an all-time low in the summer.

READ: Activist investor Elliott buys stake in Saga

Saga has retained advisors to help with a potential sale of its domiciliary care business, Sky News reported, though this is a small part of the business, making £6mln of revenue in the first half of the year.

Saga's shares have lost around three-quarters of their value in just over two years as chief executive Lance Batchelor tried to overhaul the group, including a shift to selling third party products, a VIP membership scheme to offset falling numbers of high-spending cruise customers and the launch this year of a new three-year fixed-price insurance product.


Quick facts: Saga Group

Price: 47.604 GBX

Market: LSE
Market Cap: £534.12 m

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