Member Info for SimonPL

I was hoping to actually see a profit this year and not yet again a loss, even though the loss is not on actual trading, the market still is seeing this as no progress.

i fear this share will not move until we show actual fy profits.

To be honest, i am pretty disappointed with these results. As its been said, these wont go anywhere until we make actual money.

It's the word

If they sell the ships and lease them back, this would be a very worrying sign for saga. You only sell and leaseback if you need the cash and cannot operate on a monthly basis.

Leasing the ships back, would cost more per month than they are paying currently.

You said in a previous post they quoted you £3,812?

Interest payments come off the Profit and Loss?

I think it would be a terrible idea to sell the ships and lease them back. It will cost more in the long run, wipe a huge amount from the balance sheet (and debt also)

I would have hoped that the goodwill has fully be written down now, it would be a very bad situation if they do this again. Thats close to 1 Billion of losses to carry forward (long term positive for cash)

We should be on track (based on last years) for a 50M - 60M profit for the year, this is what i am expecting. Probably completely wrong mind....

Hi All,

Just a general question for everyone - How many on this board are in profit and whats all your average buy prices?

I am way down on this share - my average is 260

It seems when the market increases, Saga does not. When the market goes down, Saga has a double drop.

I think we are in very dangerous territory, i am sure the banks have covenants with regards to the share price and if these are breached, we may have issues.

This share price is so cheap currently that i would expect a PE company to come and make a bid, take it private, sale and leaseback, take the 200M out to cover the purchase price and break it up. Easy money!

I think we have also to look at the BOD - How are they incentivised? - Long Term profitability and value, or short term cash positions? - They dont care about the long term, they wont be here.

short term, this would take out some debt and reduce the balance sheet by a large margin and it will harm profits moving forward, Unless Roger buys them and leases them back to saga.

I am not sure how much debt is per ship currently, or actually what they paid per ship either - but in order for someone to lease them back to Saga - they will make money (more that the banks currently)

As per sale and leasebacks - end of terms, you would have large charges for refurbs etc.

I honestly do not see the point of sale and leaseback. it would cost the company more money in the long term and reduce profits.

You are just adding another middleman to take a profit share?

they are better off speaking to the lenders and extending the loan for the ships.

I think the current share price will stay around the same levels until we actually see how the company is performing. They made underlying profits last year, but still a loss.

I would have thought that the company will not write down any more assets from now on, so the next financial figures will be positive. Until the market actually knows whats going on, the shareholders have no hope.

Regarding pricing (in my opinion) - The business is currently worth (on the stock market) £154M - Given that without the underlying profit is around £40M - shows a current multiple of 3.5 - this is without

This still is generating cash, paying bills when they are due, paying down debt and generating a profit.

I have always thought that a typical range for a listed company is in the region of 6-10x - This is why i still currently think SAGA is very cheap. The market does not think this due to the large losses that have been constantly posted. I understand this is a simple way to look at it!

If the share price hovers around this mark when the company does post actual profits, then i can see a PE company coming in and getting a very good deal, Especially if the directors have some sort of bonus structure in place.

We must remember, they do not care at all about the shareholders, only about achieving an exit for themselves.

all of this long waffle post is my own opinion!

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.

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.

First time posting on this board, but a long term follower of Saga (this board) and a shareholder that is currently averaging a 280p cost per share.

The outgoing CEO has had a long line of failures, has not succeeded in any job role for a very long time. He has destroyed value in every business he has been in, whilst pocketing millions.

He (either sacked or jumped ship) clearly knows what's coming and will get out before the next results are out, so the blame will go else where.

The press are not helping with the headlines and the share price is reflecting that.

If SAGA does not get snapped up and taken private at a low price, i would be very surprised.

We simply need a BOD that works for the company and not for their pockets.. (wishful thinking)

Unfortunately i was in the camp of "it will fly" - but i think now, give the constant bad news it will hover around this price until something drastic happens for another 2-3 years.

I very much hope i am wrong, but even i am losing patience!!