Saga to launch new over-50s media brand to capitalise on UK’s ageing population Over-50s Saga is set to launch a new over-50s media brand, the conglomerate’s chief executive told City A.M., as the company looks to capitalise on the UK’s ageing population. Saga, which sells travel, insurance, and financial services to over-50s, is seeking to exploit a “gap in the market” and build a “superbrand for older people” by [...]
Saga looks to sell off insurance business to help pay down £721m debt Insurance Saga is reportedly seeking to sell its in-house insurance business in a bid to raise £90m to help pay down its huge £721m debt. The London-listed company, which offers cruises, package holidays, insurance, and financial services to the over-50s, is looking for buyers for its underwriting arm, according to The Sunday Times. Any sale of [...]
Over-50s specialist Saga has 600 per cent increase in underlying profit in Covid revival Bounceback The post-pandemic boom in travel and cruising helped over-50s specialists Saga post a 600 per cent increase in underlying profit for the first half of the year. Saga announced almost £260m in revenue up until July 2022, a 65 per cent increase on the previous year, while its £14m underlying profit brought it back in [...]
Saga bolsters board in push to pandemic recovery August 23, 2022 Over 50s specialist Saga has called in three new directors to bolster its leadership team today as it looks push ahead with its recovery from a pandemic slowdown.
Saga on track for profits as pandemic recovery continues July 5, 2022 Over-50s specialist Saga said it was on track to return to profits today as it continues its recovery from a pandemic slump.
Over-50s holiday firm Saga Group says cruise demand beats pre-pandemic but warns of short-term challenges March 23, 2022 Over-50s holiday and insurance firm Saga Group said cruise bookings for the coming year were higher than pre-pandemic levels due to pent-up demand from holiday goers.
Saga chief: We failed to modernise during years of private equity ownership October 26, 2021 Saga failed to modernise during years of private equity ownership, and must urgently change, according to the firm’s boss. Euan Sutherland, who joined the firm for the over-50s market in January last year, admitted the company lost its way in how it engaged with older customers. His comments came as the chief executive of the [...]
Smoother sailing: Saga cruise bookings back to pre-Covid levels September 22, 2021 Holidays group Saga has reported smoother sailing with bookings for cruises in 2022 back to levels seen before Covid. The group – which caters to over-50s – said its current booked cruise load factors were at 70 per cent for 2021/22, following legal restrictions on capacity for early cruises. It posted tour operations bookings for [...]
Cruise ship operator Saga’s profit plunges as travel restrictions continue April 7, 2021 Saga, the over 50s holiday and insurance provider, suffered a sharp drop in profit during the coronavirus pandemic due to the negative impact of restrictions on international travel. Underlying profit before tax plunged 84.4 per cent from £109.9m to £17.1m, it said this morning. However, the cruise ship operator posted a statutory loss before tax [...]
Cruise operator Saga in talks with lenders as debt mounts January 26, 2021 Over 50s holiday and insurance provider Saga revealed this morning that it is in talks with lenders about its debt levels as restrictions on travel during the pandemic continue to have a negative impact on its business. Saga it has “significant liquidity and headroom to the current covenants in short term bank facilities”, but it [...]