Sales are down due to the competition on the internet over the last few years, and the general dilution of experience activities on the net (many other types of experience available).
We experience a 10% no show rate, and whilst I don't know about the VAT certainly it is taxable income. So not quite all pure profit!
We do not use the Red letter Days Into the Blue etc type companies as the deal is so poor and the thinking is if none of us used them we will all benefit.
Somebody earlier said the "good old days" and I believe they are well and truly behind us in this business. The secret is in the web site, search engine optimisation, marketing and all that good stuff - but then that is no secret!
Happy Christmas!