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Alnwick,
Awesome thank you. What was Walker Crips target price before may I ask?
Rupans,
Walker Crips 200p
NUMIS reiterated 200p
I’m sure we will see a few more upgrades in the next few days.
Best Wishes
Alnwick,
Which broker upgraded to 200p?
That is the Best Trading Statement I have read in my 5 years as a SAGA shareholder.
POSITIVES
Sutherland and Quinn are gone and Mike Hazell's commentary is already more positive!
Group Growth of 10-15%
Underlying PBT forecast to be up over 100%
Ocean Cruise Load factors up 8% and Per Diems up 9%
Ocean Cruise will exceed prior forecast of 40M EBITDA per ship.
River Cruise Load factors up 59% and Per Diems up 12%
Current bookings for Travel up 20% returning to pre-pandemic levels.
Central cost savings of 7.7M Pounds and more to follow.
Cash position will be 135M-145M plus unused Revolving Credit facility of 50M and 85M from RDH. Therefore 150M bond can be repaid from existing facilities in May.
NEGATIVES
"Underlying Profit" seems to indicate another Goodwill write down
Insurance Businesses continues to be challenging with policy sales down 9%
Clarity required on Insurance Underwriting and Strategy on Ships.
My broker has update their forecast for the SP this year to 200p
Best Wishes
For reflection, this time last year amid the gloom and uncertainty the share price was 1.90
Been a great riser of late
Thanks Poker for your explanation.
Yes. I know the last CFO is the new CEO. I was saying good riddance to the CFO before last.
The one that didn't know the run rate on river cruise after telling a bunch of analysts that they were splitting it out...
He probably means the old old CFO
Please could you explain the significance of this SP behaviour?
the significance ?
well....@Btfasted ... it gives you an understanding of how the market is seeing the company performance and what it is valuing it at, at the current time ..... so that you can hopefully align your own ideas/expectations to that of the market. At the end of the day, what we think matters for little, we have to understand how the market thinks
" By the way, Good riddance to the old CEO and CFO."
I take it you do know the "old" CFO is now the "new" CEO
( and the old Group Chief Corporate Development Officer is now the new CFO)
Hi Rogue.
I thought we might hear more about possible partnerships and more about intentions of our new major shareholder. This is what we need to know.
Hi Poker. I know you are right about this bear retrace business. And you have said it previously. Please could you explain the significance of this SP behaviour? Thanks.
By the way, Good riddance to the old CEO and CFO.
Euan Sutherland last day is tomorrow and then there is the new set up of the new CEO and new CFO in position , so I suspect the market now wants to see how they handle things during their first quarter in the roles
Well , there you go...back to that Bear retrace price area ....again !
The Bears have, since the turn of the year thought the Update was priced in at 150p-155p and it struggles to maintain those levels , repeatedly
Looking back to this time last year....
More than double the number of posts and posters 0700-1030. (Yes I know, I need a proper job again)
Price well north of where we sit now, with some stronger numbers.
So probably less PI interest and anyone else is waiting to see how the goodwill is treated this year and what happens with this ship lease/whatever thing in the meantime? I think only a deal on the ships, a deal on insurance or the final numbers without a heap more goodwill written off is gonna shift it. Hope I'm wrong tbh plenty of others on the watchlist need top ups!
Muted response to say the least, would have expected more given the positive update narrative.
Share price and Update very much as expected ....doing well with what they have, but the market sees no short term change to Insurance
Https://www.sharecast.com/news/news-and-announcements/saga-says-annual-profit-set-to-more-than-double--15995692.html
https://www.cityam.com/saga-surges-towards-profit-in-stronger-than-expected-six-months/
https://www.proactiveinvestors.com/companies/news/1039638/saga-predicts-more-than-doubled-annual-profit-on-travel-upturn-1039638.html
.... next step broker upgrades ... what does Peel Hunt have to say!!!
Nice results ... year ahead should be even more profitable with extra loading on river and ocean cruises and improvement on underwriting and of course full benefit of cost reductions. iretail insurance not that good but again only short term pressures. Lets see how the market reacts.
I thought quite neutral tbh. Some will be thinking not going fast enough I guess.
Excellent trading update - exceeding my expectations sp should rise imv.
Interesting to see once again the Bulls have sold on the share price rise and the share price is now back to that Bear line base ...again !
The high occupancy suggests the prices are too low , and it will be interesting to see the margins at the end of the day...
These are two decent ships and one wonders if someone else could see them taken to other areas of the world where they could attract higher paying customers and bringing in better margins than that achieved from more cost conscious British (near) pensioners
Also movements dur to results tomorrow and to allow Eldose to soak up more float
Batfasted…….probably because nothing goes up in a straight line. A good week last week so expect a poor one this week. Always healthy for the future price.