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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Deep-Sea Leis. | LSE:DSL | London | Ordinary Share | GB0002609781 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 70.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:9011Z Deep-Sea Leisure PLC 09 July 2007 News Release 9 July 2007 Deep-Sea Leisure PLC Interim Results for the six months ended 28 April 2007 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 28 April 2007. Salient Points * Pre-tax profit, for the six months ended 28 April 2007, was #95,000 on turnover of #2,637,000 compared with #273,000 on turnover of #2,771,000 for the six months ended 30 April 2006. * A number of factors contributed to the decline in pre-tax profits. The unusually warm spring weather reduced visitor numbers during April combined with a greater use of temporary exhibitions to encourage repeat visits, which increased cost of sales. In addition administration costs rose, principally reflecting the higher electricity charges at Deep Sea World. * Despite a difficult period, the outlook for the remainder of the year has improved particularly during June 2007 where revenue was some 19% ahead of prior year * Blue Planet Aquarium hosted its first Ocean Awareness Gala event and DSL has become a Corporate Benefactor of the Marine Conservation Society and will be supporting and championing activities such as the Marine Reserves Now Campaign, and the Marine Bill which is at white paper stage * No interim dividend will be declared by the Company. 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 Interim Statement During the six months to 28 April 2007, Deep Sea Leisure (DSL) turnover declined slightly to #2,637 million (#2,771 million - 2006) with pre-tax profit also lower at #95,000 (#273,000 - 2006). No interim dividend will be declared by the Company. A number of factors contributed to the decline in pre-tax profits. The unusually warm spring weather reduced visitor numbers and combined with a greater use of temporary exhibitions to encourage repeat visits, which increased the cost of sales. In addition administration costs rose, principally as a result of higher electricity charges at Deep Sea World (DSW). Despite both Blue Planet Aquarium (BPA) and DSW adding outdoor attractions, the business suffers during periods of extreme hot and dry weather particularly when combined with key holiday periods such as Easter this year. The increase in cost of sales is due to the continued strategy of using temporary exhibitions at DSW to increase repeat visitation. This year the exhibition is "Dinomites" with baby and juvenile dinosaur models, fossils and interactive displays. Administration expenses continue to be adversely affected by increased electricity costs in particular at DSW where the electric contract expired and the new contract is on significantly higher rates. During the period DSL has loaned Aspro its parent company #2 million at commercial rates repayable in September 2007. This has been used by the parent to contribute in funding acquisitions in Finland and Spain. The sustainable management of our seas is one of the biggest environmental challenges we face. A healthy and productive marine environment is vital because of the seas' crucial role in absorbing greenhouse gases which is critical to the balance of the earth's ecosystems and the fight against climate change. DSL is committed to making a real contribution to conservation. BPA hosted its first Ocean Awareness Gala event which it is hoped will be held on an annual basis. DSL has also become a Corporate Benefactor of the Marine Conservation Society and will be supporting and championing activities such as the Marine Reserves Now Campaign, and the Marine Bill which is at white paper stage Despite a difficult period, the outlook for the remainder of the year has improved particularly during June 2007 where revenue was some 19% ahead of prior year. This has been heavily influenced with the change in weather which looks likely to remain unsettled according to latest forecasts. Increased admission prices towards the end of June are also expected to contribute to a better performing second half. In addition the business is tackling any possible downturn in visitor numbers by introducing two new experiences activities for children and opening new catering activities within each aquarium. Angel Barrachina Chairman 9 July 2007 Unaudited profit and loss account for the half year to 28 April 2007 Half year to Half year to 12 months to 28 April 30 April 31 October 2007 2006 2006 #000 #000 #000 Turnover 2,637 2,771 6,473 Cost of sales (359) (341) (831) ______ ______ ______ Gross profit 2,278 2,430 5,642 Administrative expenses (2,183) (2,157) (4,241) ______ ______ ______ Operating profit before interest 95 273 1,401 Interest receivable and similar income 88 49 121 Interest payable and similar charges (32) (55) (105) ______ ______ ______ Profit/(Loss) on ordinary activities before taxation 151 267 1,417 Tax on profit on ordinary activities (61) (99) (450) ______ ______ ______ Profit/(Loss)/ retained for the financial year 90 168 967 ______ ______ ______ Earnings per ordinary share (basic and diluted) 0.468p 0.876p 5.037p Unaudited balance sheet at 30 April 2007 As At As At 30 April 2007 31 October 2006 #000 #000 #000 #000 Fixed assets Tangible assets 15,249 15,664 Current assets Stocks 141 151 Debtors 2150 85 Cash at bank and in hand 1,805 3,527 4,096 3,763 Creditors: amounts falling due within one year (2,217) (2,317) _______ _______ Net current assets 1,879 1,446 _______ _______ Total assets less current liabilities 17,128 17,110 Creditors: amounts falling due after more than one year - - Deferred income (2,512) (2,581) Provision for liabilities and charges (2,217) (2,220) _______ _______ Net assets 12,399 12,309 _______ _______ 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 4,534 4,444 _______ _______ Shareholders' funds 12,399 12,309 _______ _______ Unaudited cashflow for the half year to 30 April 2007 Half year to Half year to 12 months to 28 April 30 April 31 October 2007 2006 2006 #000 #000 #000 Operating profit 95 273 1,401 Depreciation charge 463 455 880 (Increase)/decrease in stocks 10 (32) (28) (Increase)/decrease in debtors (2065) (19) 22 (Increase)/decrease in creditors 17 147 (4) Decrease in deferred income (69) 45 (223) Sundry Adjustments - - 16 Net cash inflow from operating activities (1,583) 869 2,064 _______ _______ _______ Cash flow statement Net cash inflow/(outflow) from operating activities (1,583) 869 2,064 Servicing of finance 40 (1) 20 Tax paid (221) (213) (495) Capital expenditure (44) (178) (340) _______ _______ _______ Cash inflow/(outflow) before financing (1,808) 477 1,249 Financing -- (945) Church Commissioners Grant 87 (Decrease)/Increase in cash (1,808) 477 391 _______ _______ _______ 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 2006. The figures for the period to 31 October 2006 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. This information is provided by RNS The company news service from the London Stock Exchange END IR LKLFBDDBEBBE
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