Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Simon PL
From experience I’d say they treat shareholders with indifference. The message about possible changes to the cruise operation was emailed en masse to ‘Dear valued customer(s).’ Nothing was sent to shareholders. I recently referred to perks and discounts available to a range of groups; but nothing is offered to shareholders. I’ve also posted about serious issues we had on our last three cruises, following five that were very good. So we gave Saga cruises a fair crack of the whip, and a lot of money. Saga’s response was to admit they got things wrong. However their attitude was patronising and disingenuous. The best the head of customer services couid do was refer to their excellent feedback results and guarantee us ‘an exceptional experience’ on our next booked cruise. I asked her to substantiate that ‘guarantee’ as she’d already volunteered that she’d like to have upgraded us from an aft suite but couldn’t as all four front suites were booked. Her response was she had nothing in mind, but would telephone after the cruise to check all went well. I think even she realised that she had not prepared properly for our discussion, and eventually and unusually agreed to return our deposit. A good outcome as there was an outbreak of norovirus on the cruise in question. So my conclusion is that Saga sees both shareholders and those who raise justifiable complaints as being a mere inconvenience. My comment that we prefer to spend with companies we have a financial interest in provoked no response.
We are pretty much the same - 59.15% down currently!!
Hopefully you are correct. When a company says "underlying" profit - it means (to me) a possible loss for the year again, due to valuing the assets lower.
If it was the other way, would the company just put "pre-tax profit" ?
Trying to understand the company and actually how they operate and treat the shareholders.
Sorry about repeat of only
I am Down 62%
Plus not impressed with the running of this company
Why say about a possible deal on the leasing etc of the ships
It should have only been released only when a deal was done
A complete shambles
Be assured no loss will be reported this time.
Slightly concerned about the results. Given the normal "underlying" profit news release from Jan.
I like so many are way down on my investment with this share, thinking that a company with such a strong pedigree as Saga could get it so wrong. The stock market clearly has no faith at all in BOD. I am still astounded by Euan was appointed in the first place. The bloke has a truly horrific CV of failures - and thank god he is gone.
I hope i am wrong (normally are with this share) - but if there is another loss, i feel we will be in this price range for a while.
This then is a prime target for someone to take private at a low price - given years of losses. Market CAP is £170M (roughly)
Crazy price in my opinion.
CV's for the BOD would look great - "successfully" took a 700M company private and resold 18 months later for a 200% return....
There is no incentive for the BOD - Fail, move to another high paying job.
To be fair, i am a bit fed up with logging in and seeing red with this share.... and i am a bit grumpy after receiving school fees invoices!!
Its Friday at least.
Due to be published on 17th April.
So the f/results last year were posted on the 4th April, any signs yet ?
Travel yes. Insurance no. A pity Saga don't look after their shareholders like the passengers on their luxury ships. And we desperately need on update on plans for joint ventures.
Interesting comments Ianian , zccax77 and Sparafucile.
We flew yesterday with BA to Miami and both First and Business class cabins were full.
I think after being lockdown people who have the financial ability to Fly , Cruise and Stay are booking First , Upper ,Business and Suites.
SAGA are a very niche Cruise business with only 2 Cruise Ships and 4 River Ships (2 more under construction)
Their customer base are "Grey Tops" who have most of the UK's net worth and they are travelling.
The upcoming results should uplifting !!
Zccax77, thats a good point. It is a bit like air travel, first class is far more expensive than economy but you travel at the same speed in the same plane. But some people still prefer first class. Funny old world. lol
Saga have an average per diem of £368 for 2024 compare that to £140 for P&O, so they are more than twice as expensive.
Saga certainly seems to be benefiting from the general demand for cruise holidays. Even if their offering is a little uninspiring there’s still great demand. I read this earlier on a FB group: ‘Nothing to get excited about in 2025 lists. Prices gone way up and same old itineraries, but saying that I know I’ll still book.’
One thing that rankles is the lack of incentive for shareholders. There are many who qualify for 5% discount on top of the normal early booking/demand led discounts. For example members of English Heritage and ORCA.. Also on board there are special receptions for WI members and Freemasons. But there’s absolutely nothing for long-suffering shareholders.
Strong bookings at Carnival
Here’s a sneak peak at my brokers update for SAGA.
Saga share price outlook
A quick glance at City expectations for the company's growth over the next few years seems to support my conclusion. Analysts believe the corporation will report earnings growth of more than £80m in the 2023 financial year. Analysts also expect the group to report profit of £66m in 2023.
Based on these numbers, the stock is trading at a 2023 price-to-earnings (P/E) multiple of 5.4.
That looks cheap compared to the rest of the market, which is dealing at an average P/E multiple of around 14.
These figures imply the stock could be worth three times more than its current value in the best-case scenario. However, these numbers are just estimates at this stage.
.
We all know there are quite a few imponderables!
April 17th is going to be Very interesting
When the sale and leaseback was first mooted we received emails from Nigel Blanks, Cruises CEO, addressed to ‘Dear valued customer’. I replied asking why nothing was sent to shareholders. There was, predictably, no substantive response. However I later read that a group of senior execs, including the new group CEO, had a jolly on one of the ships in the Canaries. There was a Q&A session, and no doubt some excellent meals, with their adoring Saganauts. Sadly shareholder relations and value does not exist for this company.
" Prospective buyers have been asked to submit indicative offers." "The structure of a deal has still to be determined"
so basic serious offer from which to work on ...some kind of sale and lease proposal looks the best option and seems reasonably likely
they must have had interest for them to now set a deadline for initial interest to turn more serious
Once again Saga displaying their disregard of the necessity to keep shareholders informed. Perhaps they do not realise that a good number of their shareholders are also buyers of their products? At least for now
Don’t worry Thomson, I’m sure good news is coming 👀
Shocking that we have to rely on Sky news and the foreign press to find out what is going on with our company
Apparently a deadline has been set for bids to fund the ships. Some time in April has been mooted, which fits in with May’s loan repayment. Should cause a stir methinks
Hi Billzo, Like you I read the trading update which highlighted 2023.
The UK economy is changing month on month for the better and the Insurance sector is too.
SAGA must be seeing the same market conditions as Sabre and Direct Line.
We shall all see how much effect on April 17th !
Billzo, you have summed it up, considering that insurance was the foundation a few years ago this dog is in a very poor state .