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Saga PLC (SAGAG.L)

SAGAG.L on London Stock Exchange

123.60GBp
20 Jul 2018
Change (% chg)

1.20 (+0.98%)
Prev Close
122.40
Open
121.50
Day's High
123.70
Day's Low
120.70
Volume
1,353,617
Avg. Vol
4,479,944
52-wk High
213.90
52-wk Low
108.00

Latest Key Developments (Source: Significant Developments)

Saga Says Profit Before Tax Falls To 178.7 Mln Pounds
Thursday, 12 Apr 2018 03:34am EDT 

April 12 (Reuters) - Saga PLC ::REDUCTION IN PROFIT BEFORE TAX TO £178.7M REFLECTS COSTS OF SUCCESSFUL REFINANCING, COST SAVINGS AND NET FAIR VALUE LOSSES ON DERIVATIVES.FY UNDERLYING PRETAX PROFIT 190.1 MILLION STG VERSUS 187.4 MILLION STG IN FY 2016."IN A CHALLENGING MARKET WE HAVE DELIVERED A SET OF FY RESULTS WHICH IS IN LINE WITH REBASED PROFIT EXPECTATIONS SET AT END OF 2017" - CEO.FULL YEAR DIVIDEND INCREASED TO LEVEL OF 9.0P.BEGINNING TO SEE BENEFITS OF OUR TARGETED INVESTMENT IN RETAIL BROKING AND TRAVEL.MEMBERSHIP SCHEME, POSSIBILITIES, NOW HAS OVER HALF A MILLION MEMBERS.TRADING CONDITIONS CONTINUE TO BE CHALLENGING WITHIN HOME INSURANCE MARKET BUT WE HAVE SEEN SOME SIGNS OF PREMIUM INFLATION.IN BOTH TOUR OPERATING AND CRUISING, WE HAVE ALREADY SECURED MAJORITY OF OUR FY 2019 SALES TARGETS.PROPOSE TO INCREASE FINAL DIVIDEND TO 6.0P, LEADING TO GROWTH IN FULL YEAR DIVIDEND OF 5.9% TO 9.0P PER SHARE.OVERALL PROFITABILITY FOR TRAVEL BUSINESS IS EXPECTED TO STEP FORWARD AGAIN YEAR ON YEAR N 2018.  Full Article

Saga Says CFO Jonathan Hill To Resign
Wednesday, 28 Mar 2018 02:01am EDT 

March 28 (Reuters) - Paddy Power Betfair Plc ::SAGA PLC - ‍THAT JONATHAN HILL, CHIEF FINANCIAL OFFICER, HAS INFORMED BOARD OF HIS DECISION TO RESIGN FROM SAGA TO JOIN PADDY POWER BETFAIR PLC​.SAGA PLC - ‍JONATHAN WILL REMAIN WITH SAGA UNTIL SEPTEMBER​.SAGA PLC - ‍SEARCH PROCESS FOR A SUCCESSOR TO JONATHAN WILL START IMMEDIATELY AND SAGA WILL UPDATE MARKET AS SOON AS THIS HAS CONCLUDED​.  Full Article

Saga names Patrick O'Sullivan as new chairman
Monday, 19 Feb 2018 02:00am EST 

Feb 19 (Reuters) - Saga Plc ::‍APPOINTMENT OF PATRICK O'SULLIVAN AS CHAIRMAN​.‍APPOINTMENT OF PATRICK O'SULLIVAN AS CHAIRMAN WITH EFFECT FROM 1 MAY 2018.​.‍PATRICK IS HUGELY EXPERIENCED IN GROWING BUSINESSES IN FINANCIAL SERVICES AND INSURANCE INDUSTRY. HE HAS BEEN CHAIRMAN OF OLD MUTUAL PLC, FTSE 100 DIVERSIFIED FINANCIAL SERVICES CONGLOMERATE, SINCE JANUARY 2010.​.APPOINTMENT OF PATRICK O'SULLIVAN AS CHAIRMAN.APPOINTMENT OF PATRICK O'SULLIVAN AS CHAIRMAN.  Full Article

Saga Says Ttrading Continues To Be In Line With Guidance
Monday, 12 Feb 2018 02:00am EST 

Feb 12 (Reuters) - Saga Plc ::NEW 80% QUOTA SHARE AGREEMENT WITH NEWRE AND HANNOVER RE​.QUOTA SHARE ‍COVER 80% OF UNDERWRITING RISK OF MOTOR POLICIES OF GROUP'S IN-HOUSE UNDERWRITER, AICL, TO TAKE EFFECT FROM 1 FEBRUARY 2019​.‍NEW QUOTA SHARE AGREEMENT ADDS HANNOVER RE TO OUR CURRENT REINSURANCE PARTNER NEWRE​.DEAL ‍REPLACES OUR EXISTING QUOTA SHARE ARRANGEMENT WHICH IS DUE TO EXPIRE ON 31 JANUARY 2019​.‍NEW AGREEMENT PROVIDES THREE YEARS OF COVER ON A ROLLING BASIS​.‍TRADING CONTINUES TO BE IN LINE WITH GUIDANCE GIVEN IN DECEMBER 2017​.DEAL ‍CONTINUES TO REDUCE SAGA'S EXPOSURE TO UNDERWRITING RISK WHICH ALLOWS GROUP TO MAINTAIN ITS EFFICIENT CAPITAL STRUCTURE​.  Full Article

Saga Plc Says Robin Shaw Appointed To New Role Of CEO Of Saga Travel
Thursday, 4 Jan 2018 02:00am EST 

Jan 4 (Reuters) - Saga Plc ::GROUP EXECUTIVE CHANGES.ROBIN SHAW HAS BEEN APPOINTED TO NEW ROLE OF CEO OF SAGA TRAVEL.FOLLOWING A RESTRUCTURE OF OUR TRAVEL BUSINESS WE ARE COMBINING TOUR OPERATIONS AND CRUISE ROLES.JEANNETTE LINFOOT, MD OF OUR TOUR OPERATIONS, LEFT BUSINESS AT END OF DECEMBER.GARY DUGGAN HAS TAKEN OVER FROM ROGER RAMSDEN AS CEO OF SAGA SERVICES, OUR RETAIL BROKER.  Full Article

Saga Says Expects FY 2018 Underlying PBT Growth Between 1% And 2%
Wednesday, 6 Dec 2017 02:00am EST 

Dec 6 (Reuters) - Saga Plc ::GROUP'S GROWTH IN UNDERLYING PBT 1 IS EXPECTED TO BE BETWEEN 1% AND 2% FOR YEAR ENDED 31 JANUARY 2018."SEEN CHALLENGING TRADING IN INSURANCE BROKING DURING PERIOD AND MONARCH AIRLINES ADMINISTRATION, WHICH HAS AFFECTED OUR TOUR OPERATIONS".FY WRITTEN PROFIT OF OUR RETAIL BROKING BUSINESS IS EXPECTED TO BE AHEAD YEAR ON YEAR, WITH A STRONG PERFORMANCE IN MOTOR.WE NOW EXPECT RESERVE RELEASES TO BE AT A SIMILAR LEVEL TO PREVIOUS YEAR.TOUR OPERATIONS BUSINESS HAS BEEN IMPACTED BY COLLAPSE OF MONARCH AIRLINES WITH AN APPROXIMATE ONE-OFF COST OF £2 MILLION.WILL REALISE APPROXIMATELY £10 MILLION OF ANNUALISED SAVINGS NEXT YEAR.EXPECT TO INCUR A ONE-OFF COST OF CIRCA £4 MILLION RELATING TO THESE CHANGES, EXCLUDED FROM UNDERLYING PBT.  Full Article

Saga ‍Chairman announces intention to retire
Tuesday, 24 Oct 2017 02:00am EDT 

Oct 24 (Reuters) - Saga Plc ::‍SAGA CHAIRMAN ANNOUNCES INTENTION TO RETIRE AND BOARD LAUNCHES SEARCH FOR SUCCESSOR​.‍CHAIRMAN ANDREW GOODSELL HAS NOTIFIED BOARD OF SAGA PLC THAT HE INTENDS TO RETIRE FROM COMPANY DURING 2018​.‍SENIOR INDEPENDENT DIRECTOR, ORNA NICHIONNA, WILL INITIATE A PROCESS TO APPOINT HIS SUCCESSOR AS CHAIRMAN WITH IMMEDIATE EFFECT​.  Full Article

Insurer Saga on track to meet full-year targets, half-year profits up
Friday, 22 Sep 2017 02:07am EDT 

Sept 22 (Reuters) - Saga Plc ::Interim results for six months ended 31 July 2017.  Full Article

Saga remains well positioned to deliver against strategic objectives
Thursday, 22 Jun 2017 02:00am EDT 

June 22 (Reuters) - Saga Plc ::Trading statement.Core insurance and travel businesses have continued their good start to year with backdrop of a changing political and economic environment.Remains well positioned to deliver against strategic objectives set out at its capital markets event on March 29.  Full Article

Saga announces refinancing of existing bank facilities
Wednesday, 10 May 2017 02:38am EDT 

May 10 (Reuters) - Saga Plc ::Announces a refinancing of existing bank facilities.Launch of a debut 250 mln stg seven year senior unsecured bond, a 200 mln stg five year term loan facility and a 100 mln stg five year revolving credit facility.  Full Article

Saga trades in line with expectations in four months to May end

June 21 Saga Plc, which recently overhauled its travel business, said on Thursday it traded in line with the company's expectations for the four months to May 31.