Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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Saga plc
Response to Media Coverage
Saga plc (Saga or the Group) notes recent media coverage. Saga is committed to providing best-in-class products and services to its customers across all its businesses. The Board is exploring opportunities to optimise Saga's operational and strategic position in Cruise, where exceptional demand for its boutique ocean cruise offer means it is operating at close to capacity. It has concluded that a partnership arrangement for Ocean Cruise would be consistent with Group strategy to move to a capital-light business model to support further growth and crystalise value, reduce debt and enhance long-term returns for shareholders.
No decision has yet been made and there can be no certainty that any partnership agreement will occur. A further announcement will be made in due course, as appropriate.
BREAKING NEWS ON SKY NEWS
The over-50s travel and insurance specialist could outsource the operation of its two ocean cruise ships under plans being explored by its board, Sky News learns.
Next weeks trading update is going to be Really Interesting !!!
Will sir Roger be happy about losing the ships from Folkestone?
At £360 per diem, these ships should be the most profitable in the UK, yet they barely will make £30-40m EBITDA pa each. It would be better to sell the entire business to someone who can leverage it and increase the fleet size. Saga management are too incompetent to get anything right.
Bilzo…….you still here waiting for £1 old bean?
The two ships have a combined build cost of 560million , the market cap is only 207million. Surely the SP rises on this news tomorrow...
Waiting for Peel Hunt to raise their target again now price is up!
Peel Hunt? Save us please from experts . Is someone being paid for this superb piece of analysis?
Once it gets to £3.40 I will post my price target of £3.50.
Bolly and strippers all round!
Lads…..what’s the share price?
Ok cool, shall we set that as the new target price then?
Sorted…
145?
Isn't that what they call a self-fulfilling prophesy lol..FFS!
Peel Hunt raises target price from 115p to 145p.
Peel Hunt had the lowest target price by far.
We have to renew our Car Insurance 1st February on 3 cars and every year for the last 5 years we have tried SAGA and they have been expensive.
We have just tried again today and SAGA are the best price we can get and you have the option to fix the price for 3 years.
The 3 year fixed price option was 13.8% more expensive which I think is a good deal.
SAGA are obviously being more aggressive on their pricing and with inflation falling fast , particulary in the car market, they may be gaining market share!
SAGA now supply our Car Insurance, Travel Insurance and Medical Insurance.
The customer service is first class.
As a SAGA Shareholder give them a try.
The trading update on Tuesday 30th January is going to be very interesting !
Best Wishes
Slight update to those figures. I found the 22/12/23 list and there are only a couple of changes since then HBOS and Babu. SO their % change period on the table of holdings must be longer than that...
But still going right direction obvs.
Wow ! Hard to believe we touched the old money 10p level!! ridiculously cheap and undervalued
"It has climbed 28% since the last Update so the market "may" be pricing in the Update "
It may indeed, but in that period Babu has taken out 10m shares. A look at the current top 25 holders (using https://simplywall.st/stocks/gb/insurance/lse-saga/saga-shares/ownership) indicates that whilst a few Institutions have reduced, several have increased by a double digit %age resulting in a nett 4m plus increase in the top 25s holdings in the period. The information shows Babu as no change in the period so must be recent and his 10m is outside the 4m increase.. Saga staff ownership plan have increased substantially also.
I last looked at that a few weeks ago but managed to accidentally delete the last print, so can't say what the overall position is since then..... but I will keep an eye going forward
Looks positive....
To the £2 level in the coming few weeks?
The market since the New Year cannot seem to decide whether this is overbought at 145p-150p or oversold at 125p-130p which suggests some uncertainty about the Update content between the Bulls and Bears.
It has climbed 28% since the last Update so the market "may" be pricing in the Update at around 150p and not expecting too much, too soon on from that, unless something over and above expectations appears ...given that 145p+ has been fought back lately
Similarly if there is anything to disappoint the Bears may well look to take it back towards those 125-130p values again
This pattern was seen similarly in 2023 when the share price rose from 120p in late July to 150p at the beginning of September , before falling back again
I suspect the market has been able to reasonably predict the travel figures and is debating the current state of the Insurance side as there is always some concern about any further impairments there and what the current claims/policy profit is running at
There is also the bearish risk the market may have with regards to a new CEO whom the market make prefer to be a bit cautious about until he proves continuity of progress in his next first Update ( this one being largely that of Sutherland)
I would be tempted to sell before the Update if the rise continues with a view to the Update being priced in
Gonna need a bigger boat....
Hays Travel release a great set of figures last week and one of the largest growth areas was Cruises.
The Cruise industry released projections for the next few years and Cruise is forecast to grow close to 20% in 2024
Ocean-going cruise passenger growth
2022 20.4m
2023 31.5m
2024 36m
2025 37.2m
2026 38.5m
Next weeks Trading Statement will be very interesting!
Re AICL , if the insurance business has turned round, this is a big part and can generate a lot of income, to sell or even to have the threat hanging over the business will have a neg. impact on the insurance business, i strongly believe it to be worth a lot more than 100k .
Rogue,
Agree with everything you have said plus if motor insurence is looking foreward to higher premiums and underwriter profitability, then it instantly makes the motor insurance retail and underwriting side instantly more valuable. If they put AICL up for sale right now I am sure they can command a much higher price than £90M (what they were going to sell it for a year ago. I hope they do and reduce the debt which would instantly change the value of Saga
TTNY
I think the key phrase there is forward looking... I think there will be progress but most insurers are acknowledging the increased sales values are only just filtering through now. And they don't have the 3 year ones to work through the system. I think barring something unexpected it will be going in the right direction but not expecting it to motor yet. They freely acknowledge that the debt needs to come down and the insurance is slowing that down. I think it will be like our other play COST where the good results have already returned, and they've been forced to re start the divi but its only steady progress on the price. Divi years away here.
As for our UAE friend, who knows what until his intentions are clear? I'm a few thousand shares higher than last year at this stage but holding back on adding further until after the update. Anyone else have a view?
Good post. Thanks.Totally agree. Good news is coming for sure............