Saga plc

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Saga plc
Public
Traded as LSE: SAGA
Industry Insurance, Travel, Financial Services, Healthcare
Founded 1959
Headquarters Folkestone, Kent, UK
Key people
 Andrew Goodsell, Non-Executive Chairman
Lance Batchelor, Group Chief Executive
Revenue £900.5 million (2015)[1]
£113.8 million (2015)[1]
£(133.8) million (2015)[1]
Website www.saga.co.uk

Saga is a British company focused on serving the needs of those aged 50 and over. It has 2.7 million customers. The company operates from several sites. All are in the UK, four in Folkestone, Kent at Middelburg Square, Enbrook Park, Cheriton Park and Ross Way; the fifth at the Eurokent Business park in Ramsgate, Kent, and the newest at Priory Square in Hastings, Sussex.[2][3][4] It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

History

The business was founded by Sidney De Haan in 1959 and was passed to his son Roger De Haan who took over in 1984 after his father's retirement.[5]

Saga was acquired by staff (20%) backed by the private equity firm Charterhouse in 2004.[6] Saga merged with The AA (owned by CVC and Permira) to form Acromas Holdings.[7]

In May 2014, it was announced that Lance Batchelor - formerly head of Domino's Pizza - would be taking the role of CEO of the Saga Group ahead of a possible initial public offering (IPO). In May 2014, Saga Group was successfully listed on the London Stock Exchange as Saga PLC.[8]

Operations

Saga's operations include:[9]

  • Saga Holidays provides package holidays and tours across the globe. It owns and operates the cruise ships MS Saga Pearl and MS Saga Sapphire and also owns and operates the Bel Jou Hotel in St Lucia, as well as Titan Travel.
  • Saga Services provides a wide range of Insurance products - Motor, Home, Travel, Caravan, Commercial Van, Pet, Private Medical, Life Insurance, Motorhome and legal services.
  • Saga Personal Finance provides savings accounts, credit cards, travel money, financial advice, equity release, share dealing, annuities, life assurance & long term care funding advice.

In October 2014 Allied Healthcare was ordered to pay the legal costs of Elaine Fernandez, a nurse who was awarded more than £80,000 by an employment tribunal in 2013, after it ruled she was unfairly dismissed and suffered detriment for making protected whistleblowing disclosures.The tribunal said the company had pursued a "defensive position" that was "unreasonably hostile". She had raised concerns after Hywel Dda Health Board which commissioned the company to provide nursing care for a disabled patient decided to replace nurses with healthcare assistants.[10]

Magazine

Saga operates a subscription magazine, Saga Magazine, claiming a circulation figure of over 500,000 and a readership of some one million per month. Founded by Paul Bach, under his editorship it became Britain's biggest-selling monthly magazine.[11]

References

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External links

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  2. ↑ Saga Group Limited
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