10th Apr 2008 08:00
All Leisure Group plc10 April 2008 All Leisure Group plc - Annual General Meeting At the Annual General Meeting of the cruise operator, All Leisure Group plctoday, the Chairman and the board of All Leisure Group plc will update themarket as follows:- "Since my last statement I am pleased to report that Group trading and revenuesfor Summer 2008 are in line with expectations. Swan Hellenic bookings and revenues are very strong and are already well inexcess of 90% of this Summer's budget. Whilst Voyages of Discovery bookings haveslowed, revenues are ahead year on year given a slightly larger programme andhave already reached nearly 80% of the Summer 2008 budget. Bookings and revenuesfor Discover Egypt are in line with expectations. Booking levels for Winter 2008/9 programmes are robust and are in line ormarginally ahead of expectations throughout the Group. We launched our Swans Summer 09 programme early with brochure prices 7% higheron Minerva. Bookings have started well and sales for the recently launched SwansRiver Cruise programme are also on target. Summer 2009 programmes for Voyages ofDiscovery and Discover Egypt will be released next month with higher brochureprices. Whilst forward bookings are satisfactory we are not alone in finding the currentcost environment challenging. Assuming fuel costs remain at current levels wewould expect a year on year increase of 65-70% in the current financial year ona like for like basis. Currencies have also displayed volatility however we havelimited any adverse impact through our existing hedging policies. All othercosts remain in line with expectations. We believe that the group's net cash balances of £33m give it a financialstrength that is becoming an important differentiating factor in the currentless certain economic times. We therefore remain confident that this providesthe opportunity to expand the Group at the appropriate time." - Ends - Enquiries All Leisure Group plc Roger Allard, Executive Chairman 01444 462103 Citigate Dewe Rogerson Ginny Pulbrook / Hannah Seward 020 7638 9571 Blue Oar Securities William Vandyk / Matthew Marchant 020 7448 4400 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
ALLG.L