Saga plc
 "Nothing is too much trouble" | |
| 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
- 1 2 3 "Preliminary Results 2015" (PDF). Saga Group. Retrieved 10 April 2016.
- ↑ Saga Group Limited
- ↑ "MetroMail". metromail.co.uk. Retrieved 3 April 2015.
- ↑ "Welcome to Saga. Over 50s Insurance, Holidays, Magazine and More". www.saga.co.uk. Retrieved 3 April 2015.
- ↑ "Saga Holidays founder dies". BBC. 18 February 2002. Retrieved 10 April 2016.
- ↑ "Saga sale nets £1.2bn for founder's son". The Telegraph. 5 October 2004. Retrieved 10 April 2016.
- ↑ Goodman, Matthew (23 September 2007). "Equity windfall for Saga and AA staff". The Sunday Times. Times Newspapers Ltd. Retrieved 2009-11-14.
- ↑ "Saga PLC company summary". London Stock Exchange. Retrieved 27 August 2014.
- ↑ "Saga's holidays help lift revenues as car insurance decelerates". The Telegraph. Retrieved 11 April 2016.
- ↑ "Whistleblowing nurse receives £80k payout". MDDUS. 24 September 2014. Retrieved 27 October 2014.
- ↑ "Obituaries - Paul Bach". Telegraph Media Group Limited. 16 October 2011. Retrieved 24 October 2011.
