All Leisure Group today reported a full year pre-tax profit down 67% to £2.7 million.
Chairman Roger Allard said the results showed the group, which includes Voyages of Discovery, Swan Hellenic and Discover Egypt, had like most operators been affected by the recession, movements in currency and fuel costs.
But he said the results for the 12 months to the end of October 2009 were ahead of City expectations. Pre-tax profits before adjustments to the group’s derivative adjustments fell less steeply, by 28% to £4.5 million.
Turnover during the year rose by 9%, which Allard said was due to a full year of cruising from Swan Hellenic and the contribution of Hebridean Princess, which the group acquired in April last year.
Allard said the group would continue its strategy of exploiting increasing demand for destination-led cruise holidays and providing a choice of other niche holidays for the over-55s.
