Cruise and tour operator All Leisure Group has halved its pretax loss to £7.2 million, down from £13.6 million in 2013.
This is despite ongoing unrest in key cruise areas, particularly Crimea where the company took a £1.9 million loss due to the need to reschedule.
Chairman Roger Allard said over the past year, the group “has continued its work to consolidate the former ‘All Leisure Group’ and ‘Page & Moy’ businesses into one business”.
“This work, together with the further strengthening of the management team, has created an organisation that is fit for the future with effective leadership and a lean, cost-effective structure,” he added.
Revenues were down 2% year-on-year.