Saga Group

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Saga Group Plc
Type Public
Traded as LSESAGA
Industry Insurance, Travel, Financial Services, Healthcare
Founded 1959
Headquarters Folkestone, Kent, UK
Key people Andrew Goodsell, Executive Chairman
Lance Batchelor, Group Chief Executive
Revenue £1,257.9 million (2014)[1]
Operating income £160.3 million (2014)[1]
Net income £109.6 million (2014)[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[edit]

Sidney De Haan founded the company. His son Roger De Haan took over in 1984, after his father's retirement. The Group Executive Chairman is Andrew Goodsell. In May 2014, Andrew 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 IPO.

Saga was acquired by staff (20%) backed by the private equity firm Charterhouse in 2004. Saga merged with The AA (owned by CVC and Permira) to form Acromas Holdings. Acromas is approx 20% owned by staff, 35% Charterhouse, 20% Permira, 20% CVC and 5% others.

In May 2014, Saga Group successfully made its debut on the London Stock Exchange as a Public Company, and therefore changed its name to Saga PLC.[5]

Operations[edit]

  • 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.
  • Allied Healthcare (not to be confused with Allied Healthcare Products Inc.) is a sister company providing domiciliary care nationwide (after the acquisitions of Nestor and Allied Healthcare). It provides
    • Home care, including respite care and live-in care
    • Clinical services, including paediatrics, PEG feeding, and ventilator care at home
    • Nursing services at home
    • Specialist services, including learning disabilities support
    • Healthcare staffing and locum services, providing doctors, dentists, nurses and other healthcare staff to public and private organisations

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.[6]

  • MetroMail is a direct mail business that was acquired by the Saga Group in 1989. Although the acquisition was planned primarily to satisfy Saga's own direct mail needs, the company was expanded to compete for business from other customers in 2000 from its facility in County Durham.
  • Saga used to operate a telecommunications business, but this was sold in 2010 to The Phone Co-op.

Magazine[edit]

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.[7] It is currently edited by Katy Bravery, and Emma Soames is the Editor-at-Large.

References[edit]

  1. ^ a b c Prospectus
  2. ^ Saga Group Limited
  3. ^ MetroMail Homepage
  4. ^ Saga Homepage
  5. ^ "Saga PLC company summary". London Stock Exchange. Retrieved 27 August 2014. 
  6. ^ "Whistleblowing nurse receives £80k payout". MDDUS. 24 September 2014. Retrieved 27 October 2014. 
  7. ^ "Obituaries - Paul Bach". Telegraph Media Group Limited. 16 October 2011. Retrieved 24 October 2011. 

External links[edit]