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All Leisure Group profits slide
Friday, 26 Jan, 2010
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Niche cruise and tour operating company All Leisure Group saw profits for the last year drop by 69%.
The parent of Voyages of Discovery, Swan Hellenic and Hebridean Princess saw profit for the year to October 2009 drop to £2.7 million from £8.8 million a year earlier.
This came despite turnover rising by nine per cent to £73.6 million.
Chairman Roger Allard described trading as “still challenging” across the industry.
“Whilst consumer confidence is slowly recovering, the continued weakness of sterling puts pressure on costs and therefore margins that are difficult to mitigate,” he said.
All Leisure acquired Hebridean Princess during the period and has subsequently acquired another ship, the Alexander von Humboldt, which is to be chartered out for the coming summer to Phoenix Reisen.
“The group’s strategy remains unchanged, namely to achieve growth by exploiting the growing demand for destination-led cruise holidays and by providing an increasing choice of other niche holiday products into the over-55 English speaking market,” said Allard.
There has been “significant” levels of repeat business in the past year, underlying the benefits of customer loyalty, he added.
On board surveys show that nine out of ten of last year’s passengers intend to sail with the group again in the future.
by Phil Davies
Phil Davies
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