05/03/2003
Deep-Sea Leisure runs two UK aquariums, Blue Planet in Cheshire and Deep Sea World in Edinburgh, billed as Scotland's shark capital. The company recently changed its year-end from 28 February to 31 October. This was because Net-Ein, part of European water and marine park operator Aspro, has a majority interest in the company and the year-end was shifted to align the accounts with Aspro and also to include Deep-Sea's peak season. Preliminary numbers therefore covered an eight month period, and showed pre-exceptional pre-tax profits coming in at £1.14m on sales of £4.54m, against £878,000 and £4.64m for the equivalent eight months in 2001. The exceptionals were some £252,000 of advisers fees incurred during Net-Ein's taking of a majority stake. These days, the company is trying to boost per capita spend per visitor rather than chasing visitor numbers through financial incentives. Encouragingly, overall per capita spend rose 10% to £7.55 in the period, and chairman Richard Golding says the current year has started positively. 'Our strong cashflow, together with the expertise and resources of Aspro, means Deep-Sea is well placed to take advantage of opportunities that may arise in the UK leisure sector,' he commented. Deep-Sea was recently suspended on tardy interims to August, which eventually revealed a 53% hike in pre-tax and exceptional profits to £1.06m. Turnover was £3.76m (£3.65m).
| Market cap: | £6m |
| PE Forecast: | n/a |
| Share price: | 31.5p |
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