Interim Results
09 Julio 2007 - 8:09AM
UK Regulatory
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
Deep-sea Leisure (LSE:DSL)
Gráfica de Acción Histórica
De Dic 2024 a Ene 2025
Deep-sea Leisure (LSE:DSL)
Gráfica de Acción Histórica
De Ene 2024 a Ene 2025
