Saga plc (lon:saga)
Saga – Thanks Market Overreaction. :-)

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Saga plc Share Price
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Title: Saga – Thanks Market Overreaction. :-)
Company: SAGA - Saga plc
Share Price Then: 65.6p
Author: Ian Smith
Date: Thu 04 Apr 2019
Comments: I have been following Saga for a while and came to the conclusion that they had lost the plot and had basically become a price comparison/affiliate marketing site.

Today’s trading update seems to agree with that;

“…the results demonstrate that Saga cannot grow without a clearly differentiated offering to its customers”

As well as this part of the update included a £310 million write down of goodwill which turned a £180million profit into a £135million loss.

These headline numbers seem to have caused a massive overreaction of a 40% share price drop.

Whilst the underlying numbers do indicate a small drop in business this surely has to be an opportunity with a big upside and almost as small as possible downside.

Update 16/April/2019 - I have been looking back at the 2017 accounts and comparing them with the latest results and I am a bit surprised that I seem to be wrong and there hasn't been a recovery.

I still think people are over recacting to the drop in insurance sales and the headline loss.
Read Count: 159/7049

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