Niche cruise operator All Leisure Group has announced pre-tax profits of £7.03m in its preliminary results.

The owner of Voyages of Discovery, Discover Egypt and the newly-acquired Swan Hellenic brand, said profits were in line with expectations, while turnover was slightly down at £45.4m during its first year floating on AIM stock exchange.

All Leisure Group chairman Roger Allard said that he plans to develop more itineraries within the three cruise brands by increasing the fleet.

Allard said: “I am extremely pleased to deliver results slightly ahead of market expectations and propose a 5p dividend per share – marginally ahead of the anticipated level.

“It is our strategy to develop more cruising itineraries by chartering, leasing or purchasing additional vessels.

“Our focus on the more mature customer with a relatively stable disposable income and available time, continues to be successful even in the current economic climate.”

The company has also launched Swan’s river cruise programme on board  two river cruise vessels for 2009, thanks to the success of the ocean cruises on Minerva this year.