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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:9024N Deep-Sea Leisure PLC 24 July 2003 News Release 24 July 2003 Deep-Sea Leisure PLC Interim Results for the six months ended 30 April 2003 Deep-Sea Leisure PLC, the leisure company which runs two aquariums in the UK featuring marine life, announces its interim results for the six months ended 30 April 2003. Highlights * Pre-tax loss reduced to #22,800 compared with a pre-tax loss of #71,700 for the corresponding period in 2002. * Turnover up 2.4% to #2.45m compared with #2.39m for corresponding period against a difficult tourism market. * Continued improvement in per capita spend - up 18% year on year * Investment in new revenue generating initiatives at Blue Planet and Deep Sea World and increased revenue from dive packages. For further information please contact:- Richard Golding, Chairman Deep-Sea Leisure PLC 0034 91 562 5010 Stuart Earley, Managing Director Deep-Sea Leisure PLC 0151 357 8804 Roland Cross, Director Broadgate 020 7726 6111 Chairman's Interim Statement This is the first time the Company has reported results for the six months ended 30 April 2003, since changing its year-end to 31 October to be consistent with its majority owner, Net Ein. The Company has performed admirably despite a difficult tourism market affected by the general downturn in tourist spending in the UK. During the six months ended 30 April 2003, the Company reduced its pre-tax loss to #22,800 (#71,700 for the corresponding period) on turnover up 2.4% to #2.45 million (#2.39 million for corresponding period). Due to the nature of Deep-Sea Leisure's business, the most active trading period is between April and September. As such, the results for the period under review should be viewed in the context of a quiet six months during which the aquariums are able to plan and implement new initiatives designed to strengthen their appeal. The operational strategy of maximising per capita spends and improving margins, continues to progress well. Per capita spend has increased by 18% from #8.99 in the same period last year, to a current spend of #10.66. This improvement has resulted in an increase in turnover, despite a 13.6% year on year decline in the number of visitors, from 265,599 to 229,562, reflecting both the general poor economic climate and the reduced number of discounted tickets distributed by the Company. As mentioned in my last Chairman's statement, new marketing initiatives have been implemented aimed at enhancing the promotion of both venues. It is your Board's belief that profitable turnover growth can be achieved through a targeted and coordinated marketing campaign. During the period, the Board has also strengthened the management team with the appointment of Sue Howarth as Financial Controller and Company Secretary. The summer season has started slower than expected, primarily due to good weather this year, which benefits open air attractions, compared to bad weather in 2002 which was good for the aquariums and other indoor attractions. Assessing the performance of the aquariums is difficult given the continued uncertainty in the tourism industry. As a leisure attraction we are not alone in experiencing a reduced number of visitors. However, the strategic initiatives we have implemented, together with improved operational systems will help protect Deep-Sea Leisure as we move forward. We are, therefore, cautiously optimistic that the full year will see a satisfactory outcome. Richard Golding Chairman 23rd July 2003 Unaudited profit and loss account for the half year ended 30 April 2003 Half year to Half year to 8 months to 30 April 30 April 31 October 2003 2002 2002 #000 #000 #000 Turnover 2,446 2,389 4,544 Cost of sales (310) (355) (635) ______ ______ ______ Gross profit 2,136 2,034 3,909 Administrative expenses (2,002) (1,925) (2,566) Costs incurred during takeover - - (252) ______ ______ ______ Operating profit before interest 134 109 1,091 Interest payable (157) (181) (205) ______ ______ ______ Loss on ordinary activities before taxation (23) (72) 886 Tax on profit on ordinary activities - - (347) ______ ______ ______ (Loss)/profit retained for the financial year for equity shareholders (23) (72) 539 ______ ______ ______ (Loss)/Earnings per ordinary share (0.001)p (0.004)p 2.81p Unaudited balance sheet at 30 April 2003 As At As At 30 April 2003 31 October 2002 #000 #000 #000 #000 Fixed assets Tangible assets 17,585 17,910 Current assets Stocks 355 379 Debtors 220 112 Cash at bank and in hand 491 386 1,066 877 Creditors: amounts falling due within one year (1,955) (1,963) Net current liabilities (889) (1,086) Total assets less current liabilities 16,696 16,824 Creditors: amounts falling due after more than one year (3,918) (3,938) Accruals and deferred Income (2,854) (2,931) Provision for liabilities and charges (1,405) (1,405) Net assets 8,519 8,550 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 654 685 Shareholders' funds 8,519 8,550 Unaudited Cashflow for the half year ended 30 April 2003 Half year to Half year to 8 months to 30 April 30 April 31 October 2003 2002 2002 #000 #000 #000 Operating profit 134 109 1,091 Depreciation charge 486 444 522 Decrease/(increase) in stocks 24 (9) (14) (Increase)/decrease in debtors (108) 122 (48) (Decrease)/increase in creditors (8) 517 (262) Grant released (76) (70) (92) Net cash inflow from operating activities 452 1,113 1,197 Cash flow statement Net cash inflow from operating activities 452 1,113 1,197 Servicing of finance (87) (181) (205) Capital expenditure (118) (55) (181) Cash inflow before financing 247 877 811 Financing (142) (47) (487) Increase in cash 105 830 324 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 2002. The figures for the period ended 31 October 2002 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 DXLFLXDBEBBF
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