All Leisure shares tumble as company considers delisting

The group has said it is actively considering delisting from the Aim market.

Shares in the company fell to 2p on Monday afternoon.

For the year to the end of October 2015, All Leisure swung to a pre-tax profit of £0.2 million from a loss of £7.2 million in 2014. Revenue was down 8.4% to £127.3 million.

All Leisure Group operates a number of cruising and tour operator brands including Travelsphere, Just You, Voyages of Discovery and Swan Hellenic.

During its financial year, the company faced a number of geopolitical problems in some of its destinations.

Bookings to Egypt, Turkey and Cyprus were heavily impacted while Black Sea cruise itineraries to Crimea are currently off limits.

Chairman Roger Allard said he was “delighted” to have achieved an overall profit but warned about a tough operating environment.

“Trading conditions are… 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.”

He added: "The board is actively considering delisting from the Aim market. It is mindful of the on-going costs of remaining as a publicly quoted company and the limited current and potential benefits available to the company. A further announcement will be made in due course."

Last year, All Leisure raised £3 million from the sale and leaseback of the ship Hebridean Princess.

It also announced plans to make up to 50 people redundant at the end of last year.