15th Feb 2016 08:40
LONDON (Alliance News) - All Leisure Group PLC saw shares plummet on Monday after the company's potential plans to delist from AIM overshadowed the company's full year results which showed the company managed a small pretax profit in 2015 after a reduction in costs offset a small dip in revenue.
All Leisure shares were down 43% to 3.12 pence per share on Monday morning.
"The board is actively considering delisting from the AIM market. It is mindful of the on-going costs of remaining as a publicly quoted company and the limited current and potential benefits available to the company. A further announcement will be made in due course," said Chairman Roger Allard.
The holiday company and tour operator managed to squeeze out a GBP200,000 pretax profit in 2015 compared to the large GBP7.2 million loss last year despite revenue dropping to GBP127.3 million from GBP138.9 million.
That decline in revenue was offset by lower costs, with operating expenditure dropping to GBP102.3 million from GBP117.5 million, selling & administrative costs falling to GBP22.1 million from GBP23.6 million and depreciation and amortisation costs falling a smidgen.
All Leisure said it had less cruise passengers and less customers on its tours during 2015. The company carried 17,758 passengers on its cruises in 2015 compared to 17,885 customers in 2014, which was also exacerbated by the average revenue per cruise customer falling to GBP3,437 from GBP3,778.
The fall in passengers meant the number of passenger nights offered in the year fell to 225,907 from 235,850, but All Leisure said the occupancy rate rose to 77% from 76% because the amount of lower berth nights available was lower year-on-year.
It was a similar story at the tour division, which only carried 36,178 customers in 2015 compared to 39,762 customers last year, but the average revenue per customer rose slightly to GBP1,831 from GBP1,794.
Overall, the average revenue per customer during the year, taking into account cruises and tours, fell to GBP2,360 from GBP2,410.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.