Georgica, which was set up by ex-Northern Leisure vice-chairman Nicholas Oppenheim to buy Allied Leisure, reported £1m in pre-tax profits for its core businesses in the period from incorporation on 24 July 2000 until 30 June 2001, on £78.9m turnover. Allied Leisure's pool and snooker halls, its franchised Burger King outlets, and its 50% share of Megabowl traded under the Georgica banner for 38 weeks of this period as their purchase was completed on 9 October. However, Georgica's share of Megabowl has been included separately on the results as the company intends to dispose of it as soon as it receives an appropriate bid. Megabowl contributed £778,000 in pre-tax profits over the period but had £50.8m net debt at the period end. As for the future, the company intends to direct investment at its existing estate, which it says has been suffering from a lack of capital investment, before opening additional, cue sports outlets in the first half of 2002. These contributed £14.3m in EBITDA on £39.5m sales during the period in question. Overall group net debt totalled £55m on 30 June and is expected to be reduced slightly during the year.