We could not find any results for:
Make sure your spelling is correct or try broadening your search.
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:4639W Deep-Sea Leisure PLC 28 December 2000 The previous announcement issued on 28 December 2000 at 7:00am under RNS number 3541W has been withdrawn as there was no account taken of the costs of refinancing, which have been treated as exceptional costs. There have also been minor narrative amendments to the Chairman's Review. The full corrected announcement is shown below. Date: Thursday 28 December 2000 Contacts: Alastair Ritchie, Chairman, Deep-Sea Leisure 01383 411880 David McCorquodale, KPMG Corporate Finance 0131 222 2000 Deep-Sea Leisure PLC Interim Results for the half year ended 31 August 2000 Chairman's Review The Placing and Open Offer document circulated to shareholders on 6 December 2000 describes the recent financial status and trading of our business. During the first half of the year the business suffered serious cash flow problems, arising from a failure to meet scheduled debt repayments to its former bankers. Under these conditions, a severe restriction on capital expenditure on new exhibits and related promotional spend was essential. Undoubtedly this action influenced our trading, in circumstances already affected by the weakness of the Euro, with resultant reduced tourist numbers. In addition, the result for the year will be reduced by the significant costs relating to the refinancing. The refinancing package including the Placing and Open Offer will remove cash constraints and will allow the resumption of normal trading. To this effect, expenditure has been authorised for new exhibits and general upgrading, particularly at North Queensferry. Therefore, without any significant change in our market, we expect to increase visitor numbers during 2001. The problems affecting our business have their root cause in over gearing arising from the project over spend at Blue Planet. Resultant cash constraints have restricted trading during this period. These have been resolved and we can look forward to a period of stability, which will allow your board to concentrate on profit enhancement. Alastair Ritchie Chairman 28 December 2000 Unaudited profit and loss account for the half year ended 31 August 2000 Half year Half year Full year to to to 31 August 31 August 29 February 2000 1999 2000 #000 #000 #000 Turnover 3,168 3,454 5,477 Cost of sales (431) (474) (724) _______ _______ _______ Gross profit 2,737 2,980 4,753 Administrative expenses (1,804) (1,640) (3,302) _______ _______ _______ Operating profit before exceptional items 933 1,340 1,451 Exceptional items 1,658 - - _______ _______ _______ Profit before interest 2,591 1,340 1,451 Interest payable (487) (433) (894) _______ _______ _______ Profit on ordinary activities before taxation 2,104 907 557 Tax on profit on ordinary activities - - - _______ _______ _______ Profit retained for the financial year for equity shareholders 2,104 907 557 Earnings per ordinary share 33.57p 14.50p 8.89p Earnings per ordinary share before exceptional 7.12p 14.50p 8.89p items Unaudited balance sheet at 31 August 2000 Half year to Half year to Full year to 31 August 2000 31 August 1999 29 February 2000 #000 #000 #000 #000 #000 #000 Fixed assets Tangible assets 19,481 20,091 19,789 Current assets Stocks 679 632 625 Debtors 412 179 250 Cash at bank and in hand 19 21 14 ______ ______ ______ 1,110 832 889 Creditors: amounts falling due within one year (4,327) (4,420) (12,691) ______ ______ ______ Net current liabilities (3,217) (3,588) (11,802) ______ ______ ______ Total assets less current liabilities 16,264 16,503 7,987 Creditors: amounts falling due after more than one year (6,665) (7,516) (158) Accruals and deferred income (2,046) (3,162) (2,380) ______ ______ ______ Net assets 7,553 5,825 5,449 Capital and reserves Called up share capital 1,316 1,316 1,316 Share premium account 3,001 3,027 3,001 Profit and loss account 3,236 1,482 1,132 ______ ______ ______ Shareholders' funds 7,553 5,825 5,449 Equity 7,056 5,328 4,952 Non-equity 497 497 497 ______ ______ ______ 7,553 5,825 5,449 Unaudited cash flow statement for the half year ended 31 August 2000 Half year Half year Full year to to to 31 August 31 August 29 February 2000 1999 2000 #000 #000 #000 Operating profit 933 1,340 1,451 Depreciation charges 433 288 801 Movement in stocks (54) 51 58 Movement in debtors (162) 245 (111) Increase in creditors 164 (493) 387 Grant released (334) (325) (671) _____ _____ _____ Net cash inflow from operating 980 1,106 1,915 activities Servicing of finance (487) (297) (619) Capital expenditure (125) (624) (1,221) ______ ______ _____ Cash outflow before financing 368 185 75 Bank loans repaid (9,900) - 1,824 New bank loans 9,000 - - Bank loans waived 2,000 - - ______ ______ ______ Increase in cash 1,468 185 1,899 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 year ended 29 February 2000. The figures for the year ended 29 February 2000 have been extracted from the audited accounts for that year, which have been delivered to the Registrar of Companies and on which the auditors gave an unqualified report. 3 Earnings per ordinary share are calculated as follows: Half year Half year Full year to to to 31 August 31 August 29 February 2000 1999 2000 #000 #000 #000 Profit after tax 2,104 907 557 Exceptional operating income (note 4) 2,000 Exceptional refinancing costs (342) _____ 1,658 - - _____ _____ _____ Earnings before exceptional items 446 907 557 Basic earnings per share 33.57p 14.50p 8.89p Earnings per share before exceptional 7.12p 14.50p 8.89p items All calculations of earnings per share are based on the number of ordinary shares in issue during the period of 6,267,063. 3. No liability to corporation tax arises on the profit for the period by reason of the availability of capital allowances on expenditure on fixed assets. The directors consider that provision for deferred taxation is not required because it is unlikely that an actual liability will crystallise in the foreseeable future in respect of timing differences arising from such capital allowances. 4. On 23 August 2000 the company entered an agreement with the Bank of Scotland to refinance the borrowing. The terms of this agreement were that Allied Irish Bank (GB) and Bank of Ireland waived #2,000,000 of debt and the balance of the amounts due to them were repaid on that date from a mixed debt package amounting to #9,750,000 advanced to the company by Bank of Scotland.
1 Year Deep-sea Leisure Chart |
1 Month Deep-sea Leisure Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions