Final Results

RNS Number:3206H
Deep-Sea Leisure PLC
13 January 2005

News Release

13 January 2005



                 Deep Sea Leisure increases Pre-tax Profit 58%

                       for the year ended 31 October 2004



Deep Sea Leisure PLC, the leisure company which runs two aquariums in the UK
featuring marine life, announces its final results for the year ended 31 October
2004.



Highlights



*   Pre-tax profit for the year ended 31 October 2004 up 58% to #1.654
    million (2003 - #1.044 million) on turnover of #6.761 million (2003 - #6.138
    million)

*   Visitor numbers up 6% and per capita spend up for third consecutive
    year by 4%

*   Marketing activities continue to have significant impact in raising
    awareness and appeal  of the marine aquariums

*   Two major capital investment projects planned for current financial
    year are expected to increase appeal of marine aquariums



For further information please contact:-



Sue Elaiho, Finance Director
Deep Sea Leisure plc                0151 357 8804



Roland Cross, Director
Broadgate                           020 7726 6111




Chairman's Statement


The good progress reported in my Chairman's statement last year has continued in
the financial year ended 31 October 2004, with pre-tax profit increasing 58% to
#1.654 million (#1.044 million - 31 October 2003) on turnover of #6.761 million
(#6.138 million - 31 October 2003).

The Board is not recommending a final dividend as the retained profit will be
used to increase the financial strength of the Company and provide new
investments at both of the marine aquariums in the coming year.

The Company's excellent performance can be attributed to a combination of
improved operating margins as well as an increase of 6% in visitor numbers at
the two marine aquariums. In Finance Director Sue Elaiho's review, she reflects
on the Company's major successes during the year.

As announced in April 2004, there have been a number of Board changes with
Richard Golding and Stuart Earley resigning from the Board and Carlos Marina
being appointed as a non-executive director. Following the resignation of Stuart
Earley the Board decided not recruit a new Managing Director and instead
reallocated the various tasks of the Managing Director to the other directors.
At the same time Sue Elaiho was promoted from Financial Controller to Finance
Director and she is to be congratulated for her excellent management of the
finances of the Company.

With the continued good management and investment in new attractions we are
expectant that visitor numbers will continue to grow and look forward to the
coming year.



A Barrachina
Chairman


Finance Director's Review

The continued excellent performance of Deep Sea Leisure has been achieved in
spite of several challenging factors affecting its marine aquariums, making the
Company's sound financial performance even more rewarding.

In particular, with its close proximity to the Forth Bridge, Deep Sea World
suffered from the closure of the Bridge for a number of weekends during 2004
affecting visitor numbers. Despite this, visitor numbers were marginally ahead
of last year's as the investment in marketing maintained the profile of the
marine aquarium in Scotland.

The Company's marketing activities at both marine aquariums increased public
awareness of the aquariums and have made a positive contribution in driving
visitors to the attractions. At Blue Planet visitor numbers increased by 9%
during the year reflecting the success of a new outdoor advertising campaign.
The Company has also been successful in achieving a higher spend per visit and
overall per capita spend at both of its marine aquariums increased by a further
4% following the strong gains of 17% achieved last year.

Strong financial controls have been maintained and the Company continues to
benefit from an improving cashflow.

In the current financial year two major capital investment projects, one at each
of the marine aquariums, are planned. The attractions are scheduled to open
ahead of the main visitor season commencing in April 2005 and will, we believe,
have a beneficial impact on attracting visitors to our marine aquariums. Further
details of these projects will be announced nearer the opening of each
attraction.

With the arrival of the new attractions, continued marketing activities and the
significant contribution made by all employees, we are looking forward to a
further year of progress.



SJ Elaiho
Finance Director
Profit and loss account
for the year ended 31 October 2004



                                                                  12 Months to      12 Months to
                                                                   31 October        31 October
                                                                      2004              2003
                                                                      #000              #000


Turnover                                                              6,761            6,138


Cost of sales                                                          (847)            (781)
                                                                      _______          _______


Gross profit                                                          5,914            5,357


Administrative expenses                                              (4,091)          (4,096)
                                                                      _______          _______


Operating profit                                                      1,823            1,261


Interest receivable and similar income                                   55               33
Interest payable and similar charges                                   (224)            (250)
                                                                      _______          _______


Profit on ordinary activities before taxation                         1,654            1,044


Tax on profit on ordinary activities                                   (526)            (331)
                                                                      _______          _______
Profit retained for the financial year for equity
shareholders
                                                                      1,128              713



Earnings per ordinary share (basic and diluted)                        5.88p            3.71p







Balance sheet
as at 31 October 2004




                                                           31 October 2004            31 October 2003
                                                      #000         #000          #000         #000


Fixed assets
Tangible assets                                                    16,552                     17,249

Current assets
Stocks                                                  354                        353
Debtors                                                  81                         98
Cash at bank and in hand                              2,430                        783
                                                      ______                     ______


                                                      2,865                      1,234

Creditors:  amounts falling due within one
year
                                                     (2,069)                    (1,710)
                                                      ______                     ______
Net current assets/(liabilities)                                      796                        (476)
                                                                    ______                     ______


Total assets less current liabilities                              17,348                     16,773


Creditors:  amounts falling due after more
than one year                                                      (2,029)                    (2,973)
                                                                  

Deferred income                                                    (2,690)                    (2,801)


Provision for liabilities and charges                              (2,238)                    (1,736)
                                                                   ______                     ______


Net assets                                                         10,391                     9,263

Capital and reserves
Called up share capital                                              960                        960
Share premium account                                              5,902                      5,902
Capital redemption reserve                                         1,003                      1,003
Profit and loss account                                            2,526                      1,398
                                                                   ______                     ______


Shareholders' funds - equity                                       10,391                     9,263




Cash flow statement

for the year ended 31 October 2004


                                                                            31 October       31 October
                                                                               2004             2003
                                                                               #000             #000

Cash flow statement
Net cash inflow from operating activities                                      2,805            2,183
Returns on investments and servicing of finance                                 (169)            (364)
Capital expenditure                                                              (44)            (218)
                                                                               ______           ______


Cash inflow before financing                                                   2,592             1,061
Financing                                                                       (945)           (1,204)
                                                                               ______           ______


Increase in cash                                                               1,647               397



Reconciliation of net cash flow to movement in net debt


Increase in cash                                                               1,647               397
Cash outflow from movement in net debt                                           945             1,204
                                                                               ______           ______


Change in net debt resulting from cash flows                                   2,592            1,601
                                                                               ______           ______


Movement in net debt in the year                                               2,592            1,601
Net debt at beginning of year                                                 (3,135)          (4,736)
                                                                               ______           ______


Net debt at end of year                                                         (543)          (3,135)


Reconciliation of operating profit to net cash inflow from operating
activities
Operating profit                                                               1,823            1,261
Depreciation charges                                                             780              877
(Increase)/decrease in stocks                                                     (1)              26
Decrease in debtors                                                               17               14
Increase in creditors                                                            299              135
Decrease in deferred income                                                     (111)            (130)
                                                                               _____            _____
Net cash inflow from operating activities                                      2,805            2,183


Notes

1.        The board is not recommending a payment of a final dividend.

2.        The financial information set out on the previous pages does not
constitute the Company's Statutory Accounts for the year ended 31 October 2004
or year ended 31 October 2003 but is derived from these accounts.  Statutory
Accounts for the previous financial period ended 31 October 2003 have been
delivered to the Registrar of Companies and those for the financial year ended
31 October 2004 will be delivered following the Company's Annual General Meeting
which will be held at The Blue Planet Aquarium, Cheshire Oaks, Ellesmere Port,
Cheshire, CH65 9LF on Wednesday 16 February 2005 at 12.00 noon.  The Auditors
have reported on those accounts: the reports were unqualified and did not
contain any statements under section 237(2) or (3) of the Companies Act 1985.

3.        Copies of the annual report and accounts will be posted to
shareholders on 13 January 2005 and will be available for inspection at The Blue
Planet Aquarium, Cheshire Oaks, Ellesmere Port, Cheshire, CH65 9LF from the same
date.


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