Shares in over-50s travel and insurance specialist Saga have plunged by more than a third as it reported a £135m loss after acknowledging"increasing challenges" facing the business.
The stock was down by 37% in early trading after it also slashed its dividend and warned on profits for the current financial year.
Have become greedy and some say uncompetitive in the insurance industry, stop worrying about your shareholders,and worry about your credibility in the insurance market,and then perphaps you might get the punters back.
Because : 1. Brexit fears. 2.Middle aged people are looking for aventure, not coach trips /deck chairs. 3. Those now turning 50 are starting to have less disposible income.
Used to be competitive. Now more expensive than the competition so not surprising 👍