Member Info for zccax77

I think it's more of a case of this rising with all the other banks instead of the CEO doing a great job. We will see how well in a few months.

Alot of that book value is based on questionable fixtures and fittings and leasehold improvements.

The £60m will never be made. The CEO has a poor track record. I would have expected him to leave when the RI happened, but he hangs around like a bad smell.

Most banks trade at below book value. Why would this be any different?

Do you think ASOS will increase sales in the US due to shein being blocked as a result of the deminimus exception being removed?

Maybe their business in the US is kicking off with shein being locked out the market

Mind posting the article, I don't have access.

Demographics is destiny.

Why even bother selling? this will be a cash machine at that point.

Remember this is the only company in the UK which caters to the boomers, who are the most wealthy cohort in history. They will mostly start dieing out in 10 years which might be when this peaks.

With insurance I disagree with you. Insurance broking is significantly more profitable than underwriting and capital light. In the past Saga has earnt 30-40% in total broking fees as a percentage of GWP in motor and home. It can be very profitable if done well and Ageas can provide massive scale since even during the inflationary period they had a combined ratio of 95%. I can only assume management don't want to provide numbers since it is a very difficult thing to gauge until things are bedded down.

Also remember Saga have no competitors in the no-fly sub-1000 pax cruise space in the UK and therefore offer a unique product.

Additionally Saga offer a direct to market product compared to some of the other US operators in the space where upto 70% of their business comes from travel agents who take a 15-20% cut of revenue.

Most of the value is in the cruise line. Look at the per diems, this year it will be £397 vs £360 last year. I can see this figure increase to £500 in the next 5 years since that is where their competitors sit.

https://www.independent.co.uk/travel/news-and-advice/best-cruise-lines-passengers-survey-b2709430.html

£500(diems)*987(Pax)*365(days)*2(ships)*98%(occupancy)= £353m

£353m-£170m (current cost to operate) = £183m Profit

Even if we assume it costs £200m to operate that alone gives us a profit of £153m. Remember the cruise line falls under the tonnage tax regime so no corp tax to pay.

Their river cruise and holiday business will grow massively as well, as we have seen last year.

Their insurance business given time will also recover since Ageas have a profitable and efficient platform moreso now with the Esure acquisition. Insurance has always been a scale business.

No, waiting for it to ten bag. Wish it would go down to £1 again so I can buy for my current year ISA allowance.

i wish he would stop ***** footing around and bid for this. cheap as chips.

Thinking about tiny savings when they plan to have a restructuring provision of £25-30m, £15-20m for refinancing fees and god knows how much more for additional goodwill rightdowns.

Some of us were reading these reports and buying and now find ourselves 35% down. I hope the change in de-minimus rules in the us increase sales there and as a result push this up so that I can escape.

There are so many moving parts and a recovery many years away, why tie up capital here? Hopefully this recovers tomorrow. I think most investors are put off by the colossal debts and the risks that brings.

And when he does re-emerge all he crows about is "test and react" and "newness" whilst the share price collapses. What a clown!

Not sure I will ever see 4.50 again.

I think their travel business has legs. What keeps me up at night is one of their ships sinking and bankrupting the company.

I think polvesen is going to get this for peanuts in the end.