16 January 2019 – trading update

Saga, the specialist provider of products and services for life after 50, has announced a trading update covering the period from 1 August 2018 to 15 January 2019.  Overall, trading has continued in line with expectations.  In insurance, ongoing pressure on broking profitability has been offset by strong performance in underwriting.  Travel has performed well, including good progress on cruises.  The company’s membership scheme, Possibilities, now has more than a million members.  Final results for the year ending 31 January 2019 are due to be released on 4 April, along with an update on strategy.  The shares look fundamentally undervalued.  BUY.