Saga (SAGA)

Sector:

Tourism and Leisure Services

Index:

FTSE Small Cap

122.40p
   
  • Change Today:
      2.40p
  • 52 Week High: 156.00
  • 52 Week Low: 105.80
  • Currency: UK Pounds
  • Shares Issued: 141.80m
  • Volume: 616,163
  • Market Cap: £173.56m
  • RiskGrade: 387

Saga sees strong travel demand on vaccine success

By Sean Farrell

Date: Wednesday 07 Apr 2021

LONDON (ShareCast) - (Sharecast News) - Saga said demand at its travel business was strong as the over-50s insurance and travel company reported an 84% drop in annual profit.
Underlying pretax profit for the year to the end of January fell to £17.1m from £109.9m as revenue plunged to £337.6m from £797.3m. Saga's statutory pretax loss narrowed to £61.2m from £300.9m as goodwill impairments reduced.

Saga's travel business, including cruises, was suspended during the pandemic but with most of its potential UK customers vaccinated and sitting on extra savings the company said it was ready to restart travel operations in 2021. Cruise bookings for the next two years are up 20% on a year earlier to £154m, the company said.

Chief Executive Euan Sutherland said: "While we are mindful of economic headwinds and the potential ongoing impacts of Covid-19, it is clear that there is significant pent-up demand among our customer base, the vast majority of whom have now been vaccinated and are ready to enjoy post-lockdown freedom."

After raising £150m from investors in September, Saga proposed no final dividend.

Saga shares rose 9.1% to 380.3p at 08:35 GMT. The price has more than doubled in the past six months as hopes have risen for the travel business. Shares of cruise operator Carnival rose 3.5% to £17.69.8p.

Richard Hunter, head of markets at Interactive Investor, said: "The limited market consensus of the shares as a buy reflects Saga's demographic which is vaccinated, wealthy and ready to travel once more."





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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Saga Market Data

Currency UK Pounds
Share Price 122.40p
Change Today 2.40p
% Change 2.00 %
52 Week High 156.00
52 Week Low 105.80
Volume 616,163
Shares Issued 141.80m
Market Cap £173.56m
RiskGrade 387

Saga Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
7.2% below the market average7.2% below the market average7.2% below the market average7.2% below the market average7.2% below the market average
16.36% below the sector average16.36% below the sector average16.36% below the sector average16.36% below the sector average16.36% below the sector average
Income Not Available
Growth
23.74% below the market average23.74% below the market average23.74% below the market average23.74% below the market average23.74% below the market average
61.54% below the sector average61.54% below the sector average61.54% below the sector average61.54% below the sector average61.54% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 2
Sell 0
Strong Sell 0
Total 3
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Saga Dividends

  Latest Previous
  Interim Final
Ex-Div 10-Oct-19 16-May-19
Paid 22-Nov-19 28-Jun-19
Amount 1.30p 1.00p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 48,064 @ 122.40p
16:35 324 @ 122.40p
16:35 379 @ 122.40p
16:35 31 @ 122.40p
16:35 567 @ 122.40p

Saga Key Personnel

CFO Mark Watkins

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