Member Info for Alnwick

Hi Simon,

The 2 Ocean Cruise Ships cost 350M each and I believe 250M each is outstanding.

I’m sure RDH and the Remuneration Committee will have both the CEO & CFO ( who have only been in their positions since December 2023) on performance bonuses linked to Profit , Cash and Share Price.

RDH is the largest shareholder and in this for 9 figures !!!!

Hi ppywgda,

The 2 ocean cruise ships will make 80,000,000 this financial year.

A sale and lease back would reduce the debt but it would decimate the earnings from cruise.

The cruise business is booming worldwide and ship values are very strong.

There are over 60 new ships under construction and more orders in the pipeline , in fact Carnaval placed orders recently for another 3. It takes 3-5 years to build them.

Leasing ships is almost impossible !

I think SAGA will continue to maximise profit in cruise & travel and based on personal experiences they are getting more aggressive on their insurance pricing and have taken substantial costs out which will hopefully lead to a return to greater profits.

We will find out more with the interim results in 8 weeks !

Best Wishes

Hi Fdbcpoly,

Like most people we shop the market for insurance and this year SAGA came out tops on our cars , Medical and Travel Insurance. The service has been very good.

Best Wishes

Forget the Red n White Roses !

The Ex CEO of Geordie Greggs Roger Whiteside is the leading Non Exec. on the board.

It’s why I bought into CARD

Geordies have always protected the Roses !!!

TOON ARMY 🖤🤍

Good Afternoon All,

I read the postings of the last few days and I think we need to consider the following;

Mike Hazell joined SAGA in October 2023 and was appointed CEO in December 2023

Mark Watkins joined SAGA in October 2023 and was appointed CFO in December 2023

The latest share awards will have been part of the recruitment package remuneration incentive.

I know only to well that SAGA has been a Basket Case from 2019 ,however these two senior board members have only been in place for 6 months !

Let’s judge their performance over the next 2-3 years.

We may just get a pleasant surprise as the economic landscape is changing for the better.

Book yourselves a SAGA Cruise and Relax.

Cheers

Good Results an increase in dividend and a very optimistic future forecast should get Knights share price moving !!

Revenue increased by 6% to £150m (FY23: £142.1m); organic growth of 1.9%

· Gross margin of 48.8% (FY23: 48.5%)

· Underlying PBT1 up 17.3% to £25.3m (FY23: £21.6m); underlying PBT1 margin increased to 16.9% (FY23: 15.2%)

· Reported PBT increased 28.6% to £14.8m (FY23: £11.5m)

· Underlying EPS2 increased 8% to 21.81p (FY23: 20.20p). Basic EPS of 11.47p (FY23: 9.28p)

· Strong improvement in lock up3 days to 78 (FY23: 87 days), with debtor days improving to 28 (FY23: 30 days)

· Continued excellent cash conversion4 of 131% (FY23: 117%) enabling investment in growth

· Net debt5 of £35.2m (30 April 23: £29.2m), after a cash outlay of £11.3m relating to acquisitions and a joint venture investment in Convex Corporate Finance Limited resulting in a reduction in banking covenant EBITDA / net debt ratio to 1.1x (30 April 2023: 1.2x)

· Final dividend of 2.79p (FY23: 2.50p), giving a 9% increase in the total dividend to 4.40p (FY23: 4.03p)

All financial metrics in the interim results are down.

Most worrying is the 16.2% fall in Net Margin to 3.1%

That’s a wafer thin Margin !

SAGA Buys outnumbered Sells over 10 to 1

I’ve not seen that for a few years !!!!

Vol. Sold 75,966

Sold Value £82.76k

Vol. Bought 841,691

Bought Value £932.20k

Hi Rupans,

I bought more today ( not 600,000)

Deutsche Numis released a Buy reiteration to all clients yesterday.

A conservative 154p forecast for 2024

Best Wishes

CARD M/C 327M P/E 6.7

MOON 640M 18.6

CARD online is improving fast and my kids now send CARD as they complain that MOON are to expensive.

Hi PPYWGDA,

Basic Values

2Cruise Ships. 900m

4 River Cruise Ships 100m

SAGA Combined Insurance used to make 150m its now making 35m

AEGIS the underwriter recently bid 3.2Billion for Direct Line ( who lost 189.5m last year)

SAGA have the largest over 65’s database in the UK and the largest Brand in the over 65’s market.

25 % of over 65’s are Millionaires ! According to a recent Moneyweek article.

SAGA Insurance business must be worth north of 500m and when the market stabilizes closer to 1000m

Taking the lower of the above values comes to 1500million

SAGA has 650million Debt

Which leaves 850 Million

The current market cap is 159 million.

SAGA at 108p is Crazy Cheap !!

DYOR

Best Wishes

Hi PPYWGDA,

You could add ;

SAGA was saddled with a mountain of Debt by PE pre flotation.

Have had 2 incompetent CEO’s

Lance Batchelor and Euan Sutherland

The break up value (after Debt) is 4 times the current

market cap.

Someone is going to buy SAGA !

Hi PPYWGDA,

Thank you for sharing the Moneyweek article.

This paragraph stood out for me.

“Saga has had a difficult few years, its brand is well trusted by its main market, the over-50s, and the size of that market is growing steadily. According to the latest UK census figures, the number of over-65s in the UK and Wales has reached record levels.

And unlike other market segments, the wealth of the over-50s is booming. One in four pensioners in Britain is now a millionaire thanks to soaring property and pension values, according to government data.”

25% of SAGA’s target market are Millionaires !!!

Hi All,

Did anyone attend the AGM ?

An update would be appreciated.

Best Wishes

I stopped reading Motley Fool as their research is terrible and this is yet another example of a total rubbish piece.

The SAGA share price performance since 2016-17 is actually far worse !!!! SAGA is down 95.8%

I won’t repeat what I have said many times on this site.

I believe tomorrows AGM may well be a turning point in SAGA’s communication style as its the first AGM for both

Mike Hazell CEO and Mark Watkins CFO.

Let’s hope so !

Hi Polishcap,

Thank you for posting the Edison Group research and the interview with Darcy Wilson-Rymer.

This gives a great insight into the future opportunity we all have in CARD.

Like you I’m frustrated with the current P/E of 6.6 and the crazy cheap share price of 94p.

Let’s hope Edison’s research piece is widely read and their suggested future share price of 180p is achieved.

Best Wishes

Hi Rogue. ( I’ve not said that in business for a while !)

I’ve been to Le Mans many times and driven what becomes the race track a few times too.

I bought a car from Derek Bell ( 5 times winner!)

He has some good stories.

Have a fun week.

Cheers 🍻

Most listed Companies have virtually the same resolutions and Corryvecken gives a good account.

The AGM on 25th June is the new CEO’s first so I’m expecting either a pre AGM trading update or a little more than is usual detail in the Q&A at the AGM.

SAGA share price is ridiculously low !!

25th can be a time for Gifts

Best Wishes

I’ve been trying to find out info on Mr Babu and it’s very difficult as the Emirates don’t divulge personal info.

However a search on a Bloomberg Terminal has been useful in finding his Cost.

We know as of last week he had 11,500,001 shares which equates to 8.02%

Bloomberg states his cost on these to be

20,050,000 and I’m presuming that’s Sterling.

Therefore Mr Babu’s average cost per share is £1-82

He’s therefore been a shareholder for sometime.

He’s underwater by £6,000,000 !!

I hope he’s still Pound cost averaging…..

Happy Weekend

Carnival upgraded to a Buy !

Peel Hunt noted that Carnival had received a financial boost from the increase in popularity of cruising as a holiday choice and had benefited, too, from its competitive pricing. As a result, the broker upgraded its rating of the company to “buy” from “add”. It has a commanding position as a market leader and Peel Hunt thinks investments by the business will allow it to expand in new destinations, such as the Caribbean.

The Carnival at SAGA is coming !!