Interim Results
May 30 2006 - 11:10AM
UK Regulatory
RNS Number:7681D
Deep-Sea Leisure PLC
30 May 2006
News Release
30 May 2006
Deep-Sea Leisure PLC
Interim Results for the six months ended 30 April 2006
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 2006.
Highlights
* Pre-tax profit, for the six months ended 30 April 2006, was #267,000 on
turnover of #2,771,000, compared with #309,000 on turnover of #2,750,000 for
the six months ended 30 April 2005
* Administration expenses adversely affected by 33% increase in utilities
charges
* Octopus Adventure proving a great success at Blue Planet and a new Reef
Magic exhibit is due to open shortly. At Deep Sea World, the Seal Sanctuary
attracts visitors and supports the strong conservation stance by working
with the Scottish SCPA to rehabilitate seals into the wild
* No interim dividend will be payable 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 30 April 2006, Deep Sea Leisure turnover improved
slightly to #2,771 million (#2,750 million - 2005). However, pre-tax profit was
down at #267,000 (#309,000 - 2005). No interim dividend will be payable by the
Company.
An increase of #113,000 in administrative expenses accounted for the decline in
pre-tax profits. This was made up of an increase of 33.1% increase in the
Company's utility charges and increased depreciation following investment in new
visitor attractions, namely the Seal Sanctuary and Octopus Adventure.
A new Reef Magic exhibit at Blue Planet is nearing completion and has been
designed to give visitors the experience of being immersed in a coral reef.
Coral reefs are often called the rainforests of the Ocean and are highly complex
marine eco systems which are under threat from both nature and human abuse. The
new exhibit of six displays, which includes a central display of captive bred
clownfish, will communicate the magic of the world's coral reefs.
Two new temporary exhibitions are appearing at Deep Sea World later this year.
The first exhibition: 'SHARK! Myths and reality' runs from 1 April until 18 June
and the second: 'BBC SEA MONSTERS' is a walking with dinosaurs exhibition that
opens on the 24 June until 30 September.
The second phase of the new electronic point of sale system will be implemented
in the second half of the year. This customer relationship management system
will allow both aquariums to develop, maintain and grow relationships with its
customers. It is important for repeat visitation to be able to understand our
customers' needs and their future requirements and this new tool will enable us
to do this much more effectively. The major benefit from the first phrase has
been the ability for customers to purchase tickets online.
With the new exhibits being opened shortly at both aquariums we are hopeful that
visitor numbers will be in line with the second half of the last year.
Angel Barrachina
Chairman
30 May 2006
Unaudited profit and loss account
for the half year to 30 April 2006
Half year to Half year to 12 months to
30 April 30 April 31 October
2006 2005 2005
#000 #000 #000
Turnover 2,771 2,750 6,566
Cost of sales (341) (340) (815)
______ ______ ______
Gross profit 2,430 2,410 5,751
Administrative expenses (2,157) (2,043) (4,073)
______ ______ ______
Operating profit before interest 273 367 1,678
Interest receivable and similar income 49 24 120
Interest payable and similar charges (55) (82) (148)
______ ______ ______
Profit/(Loss) on ordinary activities before taxation 267 309 1,650
Tax on profit on ordinary activities (99) (112) (528)
______ ______ ______
Profit/(Loss)/ retained for the financial year 168 197 1,122
______ ______ ______
Earnings per ordinary share
(basic and diluted) 0.876p 1.026p 5.844p
Unaudited balance sheet
at 30 April 2006
As At As At
30 April 2006 31 October 2005
#000 #000 #000 #000
Fixed assets
Tangible assets 15,972 16,245
Current assets
Stocks 155 123
Debtors 126 107
Cash at bank and in hand 3,613 3,136
3,894 3,366
Creditors: amounts
falling due within one
year (2,383) (2,333)
Net current assets 1,511 1,033
Total assets less current
liabilities 17,483 17,278
Creditors: amounts
falling due after more
than one year (1,083) (1,083)
Deferred income (2,624) (2,579)
Provision for liabilities
and charges (2,262) (2,274)
Net assets 11,514 11,342
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 3,649 3,477
Shareholders' funds 11,514 11,342
Unaudited cashflow
for the half year to 30 April 2006
Half year to Half year to 12 months to
30 April 30 April 31 October
2006 2005 2005
#000 #000 #000
Operating profit 273 367 1,678
Depreciation charge 455 377 802
(Increase)/decrease in stocks (32) (29) (13)
(Increase)/decrease in debtors (19) (48) (26)
(Increase)/decrease in creditors 147 175 64
Decrease in deferred income 45 (55) (111)
Net cash inflow from operating activities 869 787 2,394
Cash flow statement
Net cash inflow from operating activities 869 787 2,394
Servicing of finance (1) (41) (28)
Tax paid (213) (247)
Capital expenditure (178) (316) (468)
Cash inflow before financing 477 430 1,651
Financing - - (945)
Increase in cash 477 430 706
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 2005. The figures for
the period to 31 October 2005 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
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