Saga Plunges on Dividend Cut and Profit Warning

A 40% fall in over 50s insurer and holiday firm Saga means shares are now two-thirds below its 2014 IPO price after a second profits warning, dividend cut and shift in strategy

David Brenchley 4 April, 2019 | 12:58PM
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They say profit warnings come in threes, so investors in FTSE 250 stock Saga (SAGA) will be especially anxious as the firm announced its second in the space of just 16 months on Thursday.

Shares in the insurance and holidays provider for over 50s fell as much as 40% to as low as 65p after it announced a pre-tax loss, dividend cut and shift in strategy.

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About Author

David Brenchley

David Brenchley  is a Reporter for Morningstar.co.uk