Interim Results

RNS Number:0045O
Deep-Sea Leisure PLC
24 June 2005



News Release

24 June 2005

                              Deep-Sea Leisure PLC
             Interim Results for the six months ended 30 April 2005

Deep-Sea Leisure PLC, the leisure company which runs two aquariums, Blue Planet
in Chester and Deep Sea World in Edinburgh - featuring marine life, announces
its interim results for the six months ended 30 April 2005.

Highlights

   *Pre-tax profit, for the six months ended 30 April 2005, up 18.4% to
    #309,000 (#261,000 - 2004) on turnover down 4% to #2.75m (#2.86m - 2004)


   *Further improvement in per capita spend and improved operating efficiency
    contributed to increased pre-tax profit


   *New seal sanctuary due to open on 15 June at Deep Sea World and a new
    children's adventure play park has opened at Blue Planet


   *Visitor numbers recovering to prior year's level, having declined at both
    sites reflecting the good Easter weather and a slow down in leisure spending


   *No interim dividend will be declared by the Company


   *Summer season expected to benefit from new visitor attractions.


For further information please contact:-

Sue Howarth, Finance Director

Deep-Sea Leisure PLC                            0151 357 8804

Roland Cross, Director

Broadgate                                       020 7726 6111


Chairman's Interim Statement

During the six months to 30 April 2005, Deep Sea Leisure increased pre-tax
profit by 18.4% to #309,000 (#261,000 - 2004), on turnover down by 4% to
#2.75million (#2.86million - 2004). No interim dividend will be declared by the
Company.

Despite a slow start to the year at both aquariums reflecting the good weather
at Easter and a general slow down in visitor numbers, strong operational
management contributed to the increase in pre-tax profits.

Recognising the importance of creating new and visually appealing attractions to
drive visitor numbers, we have continued to improve both aquariums over the last
six months. A new seal sanctuary will open shortly at Deep Sea World and a new
adventure play park has opened at Blue Planet. Both these new attractions are
being supported by an active marketing campaign.

The seal sanctuary is a tremendous new initiative by Deep Sea World and is
driven by our commitment to improving the welfare of all marine life. The
sanctuary will provide a place for the rehabilitation of orphaned, injured or
sick seal pups, prior to release back into the sea, with educational
opportunities for visitors to gain an insight into the animals.

As we now enter the traditionally busier period of the year, the investment in
new attractions designed to add to visitors' overall enjoyment of the aquariums
will, in the Board's opinion, assist us in achieving our visitor number targets
through the summer months.

Against a background where there are signs of a tightening in consumer spending,
the Board is satisfied that the current strategy of strong financial controls
and investment in new attractions is the right strategy which will deliver
results for all shareholders.


Angel Barrachina
Chairman

24 June 2005



Unaudited profit and loss account
for the half year to 30 April 2005

                                Half year   Half year   12 months
                                       to          to          to
                                 30 April    30 April   31 October
                                     2005        2004         2004

                                     #000        #000         #000

Turnover                           2,750        2,864        6,761

Cost of sales                       (340)        (353)       (847)
                                   ______       ______       ______
 
Gross profit                       2,410        2,511        5,914

Administrative
expenses                          (2,043)      (2,153)     (4,091)
                                   ______       ______       ______

Operating
profit before
interest                             367          358        1,823
Interest
receivable and
similar income                        24           14           55
Interest
payable                              (82)        (111)       (224) 
                                   ______        ______    ______

Profit/(Loss)
on ordinary
activities
before
taxation                             309          261        1,654
Tax on profit
on ordinary
activities                          (112)         (84)       (526)
                                    ______       ______       ______

Profit/(Loss)/ retained for the
financial year for
equity
shareholders                         197          177        1,128
                                    ______        ______       ______

Earnings per
ordinary share                     1.026p       0.921p       5.88p



Unaudited balance sheet
at 30 April 2005

                                         As At                As At
                                       30 April             31 October
                                         2005                  2004
                                    #000         #000     #000      #000

Fixed assets

Tangible
assets                                         16,466             16,552

Current assets
Stocks                               383                   354
Debtors                              129                    81
Cash at bank
and in hand                         2860                 2,430

                                   3,372                 2,865

Creditors: amounts
falling due within one
year                              (2,244)               (2,069)

Net current
assets/(liabilities)                             1128                796

Total assets less current
liabilities                                    17,594             17,348

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

Accruals and deferred
income                                         (2,635)            (2,690)

Provision for liabilities
and charges                                    (2,342)            (2,238)

Net assets                                     10,588             10,391

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                                    2,723              2,526

Shareholders'
funds                                          10,588             10,391


Unaudited cashflow
for the half year to 30 April 2005

                                Half year    Half year          12
                                       to           to   months to
                                 30 April     30 April  31 October
                                     2005         2004        2004
                                     #000         #000        #000

Operating
profit                               367          358    1,823

Depreciation
charge                               377          392      780

(Increase)/decrease
in stocks                            (29)           8       (1)

(Increase)/decrease
in debtors                           (48)        (153)      17

(Increase)/decrease
in creditors                         175          426      297

                                  
Decrease in deferred
income                               (55)         (55)    (111)

Net cash inflow from
operating activities                 787          976    2,805

Cash flow statement

Net cash inflow from
operating activities                 787          976    2,805

Servicing of finance                 (41)         (45)    (169)

Capital expenditure                 (316)         (10)     (44)

Cash inflow before
financing                            430          921    2,592

Financing                              -            -     (945)

Increase in cash                     430          921    1,647


Notes

1. The Board is not recommending the payment of an interim dividend.

2. The interim financial statements do not constitute statutory accounts within
the meaning of Section 240 of the Companies Act 1985, they have been prepared on
the basis of the accounting policies set out in the audited report and accounts
for the period ended 31 October 2004. The figures for the period to 31 October
2004 have been extracted from the audited accounts for that period, which have
been delivered to the Registrar of Companies and on which the auditors gave an
unqualified report.

K:/DeepSea/Broadgate Releases/interimapr2005.doc

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