News blog

All Leisure Group

  • BY: Andrew Hore |
  • POSTED: 14/02/2012 |

Slater Investments has taken a 3.14% stake in cruise operator All Leisure Group. 

Slater increased its stake following the release of All Leisure’s figures for the year to October 2011.These showed a return to profit.

Revenues fell from £82.6m to £80.4m, while the stated 2009-10 loss of £2.04m was turned into a profit of £5.66m. The latest figures benefited from a swing from losses of £5.49m on derivative contracts to a gain of £1.94m. There was also additional income from insurance and damages claims of £3.47m. Stripping these out, the underlying profit fell sharply. There was unrestricted cash of £6.7m at the end of October 2011.

An unchanged final dividend of 1.31p a share was announced. The record date for the dividend is 10 April.

At 31p a share, All Leisure is valued at £19.1m. Net assets are £32.5m, or £27.2m excluding intangible assets. The assets are predominantly three freehold ships, which are in the books at less than their current value, and other fixed assets.

Current sales are 7% lower than the same time last year but some selling prices are higher. Summer 2012 ocean cruising capacity has been increased by 15%. Even so, All Leisure is taking advantage of the weaker market in order to refit and upgrade mv Minerva, which is a leased. This means that winter losses will be higher this year.

© 2022 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at Subscribe to AIM Micro RSS Feeds