All Leisure back in profit
All Leisure Group returned to profit last year despite a drop in passenger numbers.
The group made £500,000 after tax in the 12 months to the end of October 2015, compared to a £7.5 million loss the previous year.
Overall passenger numbers fell 6%, with cruise passengers down 1% and tour passengers down 9%.
The company, which owns Swan Hellinic, Travelsphere and Voyages of Discovery, said bookings to the Eastern Mediterranean and North Africa, notably Egypt, Turkey and Cyprus, were heavily impacted by the political situation in the Middle East.
Its Russia tours programme was cancelled due to ‘restrictive new visa regulations’, which it said deterred customers from booking. "Popular Black Sea cruise itineraries to Crimea remain off limits due to the ongoing political situation in the region."
Average revenue per passenger fell to £2,360 from £2,410 the previous year due to both main vessels being in dry dock.
The company said it planned to achieve profitable growth by offering a greater choice of niche holidays targeted at the UK over 55s.
Announcing the results, chairman Roger Allard said he was ‘delighted’ the company had retuned to profit, but he noted trading conditions were expected to ‘remain very challenging, especially in view of the escalating conflict in the Middle East and recent acts of terrorism, and the effect these events may have on consumers’ propensity to travel’.
Allard announced that the Board is ‘actively’ considering delisting from the AIM market. "It is mindful of the ongoing costs of remaining as a publicly quoted company and the limited current and potential benefits available to the company," he said.
"A further announcement will be made in due course."
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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