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UAE investor among top shareholders in British holiday group Saga

Reuters
·1-min read

(Reuters) - A Dubai-based investor has taken a 3.2% stake in Saga, becoming one of the top three shareholders in the British holiday group.

Eldose Babu picked up the stake last week, Saga's regulatory filing showed on Tuesday. He is now the biggest shareholder after Roger De Haan, son of Saga founder Sidney De Haan, and investment firm Hosking Partners LLP, according to LSEG data.

Last month, London-listed Saga, which caters to over 50-year-olds, forecast double-digit growth in annual revenue and said underlying profits would beat market estimates, betting on resilient travel demand from retired and wealthy Britons who are less impacted by the cost-of-living crisis.

Shares of the company were up 3.8% to nearly 119 pence by 1126 GMT on Tuesday. They have fallen 5.4% so far this year, compared with a 5.7% drop in London's small cap index.

(Reporting by Eva Mathews in Bengaluru; Editing by Shinjini Ganguli)