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Harry. It isn’t me that is suggesting that Saga is and will continue to make profit. They have given projections of minimum £105M and this has not been changed by the statement today. They have also stated that improvements are on the way for next year in that there new strategy is improving prospects and they will have new revenue streams next year. The fact that they wrote down some intangible assets is not a loss. It is the operating profit that matters to an investor. So I ignore the write down in my belief that Saga make profits. Don’t you think they are making a profit Harry?
Compass007 is correct. SAGA made a profit of 180 million before tax but then offloaded 310m of Goodwill - thus the books say that they made a loss of 134.6m before tax. Goodwill had been balancing the books. Usually a new CEO is the one to point this out so (i) they can blame previous management and (2) set a low baseline for their long term incentive plan - they 'kitchen sink' it.
Looking at the forecasts for SAGA they are predicted to bounce back into profit next year. Note, their cash flow covers the debt payments. It'll be a slow recovery.
With the ceo departing the company is ripe for a take over. However the combination of cruise liners and insurance is unique to them.
Who was it said the price could go back to the opening price at the end of the day. Really are you serious. Ouch
Who was it said the price could go back to the opening price at the end of the day. Really are you serious. Ouch
ermm after goodwill impairment they made a loss of £134M...??
Batfasted. I'm slightly confused by your last post. If Saga is a 'profit' machine as you suggest why oh why is the SP heading for 30p, and lower if the bad luck continues. I've heard about 'believing in fairies' but this pushes the bounds of reason. What is exactly that you think happened today - good news or bad news because I'm lost. Its like being on the 'good ship Saga' and all the life vests have been stolen.
All theory of course and apoligies for my 'rants' today but I'm seriously pxxxed off today and I'm on the other side of the globe so cannot go to the AGM and sort the bxxxxxds out who ran Saga into the proverbial ground but took they're few pieces of gold.
Pearls. This is nothing like Debenhams which I understand was making a massive loss whereas Saga is making and a substantial profit and is projected to keep making a substantial profit.
Just wait until the Board sell out to Bondholders - this is what suddenly happened to all of us with Debenhams! And you know what happened there.... Seems to me there is a specialisation currently in Boards running companies badly at shareholders expense
Wow. The share price is sinking like the proverbial stone. Another thirteen odd percent as I scribe. I hope anyone making the meeting tomorrow gives the management a real pasting over this. Mis information, outright lies, and investors losing seventy percent of thier cash in such a short time. There ARE worst run company’s but not many. Lance Batchelor and his stupid side kick Watkins are just a joke. But no ones laughing. These people take free shares so can’t lose. BTchelor should be hounded out of office and made to run the cinder path whilst he is beaten with a stick. The pompous self indulgent idiot actually believes he is leaving a sound base! Bloody hell man, what planet are you on.
BBC on their business live page just put this up stating £4.24 a share, what the hell is going on with miss reporting
Shares in Saga, which exclusively targets the over-50s, fell by as much as 15% earlier today after the firm said political uncertainty around Brexit had sent tour bookings plummeting.
Shares have recovered slightly to trade down around 12% at £4.24 a piece, which still makes it the worst performing stock on the FTSE 250 today.
woodford woes - his luck just ran out imo. I think mine has also , trouble is I missed out on the good years !
Woodford woes?
Dodged the internet bubble, evaded the banking bust .........
.... brought back down to reality with a Brexit Bump.
probably a big sell being worked in....thats what usually happens when it looks like more buys than sells...
Seems like a lot of small trades and total purchase 11.7M shares and sales 6.6M shares. I assume this is today’s volumes so SP should be going up based on there being more purchases. I think that there is something wrong with the trading as it is not behaving like a normal market. Does anyone know what is causing this?
can see this pushing back up past the opening price of 35p today, a lot of volatility for day traders