The company that owns Henry VIII has said the company is back from the brink and is set for further prosperity.

Long Botham Boats, who also own Henry's Pantry and the concession for the restaurant at Horseshoe Bay, announced their half-year results for the period ended 31 December 1999 on Monday.

These showed that profits had tripled compared to the same period last year and that sales had gone up by 14 percent.

Paul King, president of Long Botham Boats, said that the turnaround was due to the management of John Ferris, who had reduced costs and increased sales.

"We are delighted at the results,'' said Mr. King. "But a swallow does not a summer make. We would like to see these kinds of results for several consecutive years. This will show we are a good investment and push the price of shares up.'' Shares in the company are listed on the Bermuda Stock Exchange and currently stand at $3.75. The company has a market capitalisation of $1.9 million.

The lowest they have dropped to was $1.50 when the restaurant hit troubled times and was under different management.

The restaurant had been run as a profitable private company for 22 years by John Ferris, before it was taken public by Andy Allen as Long Botham Boats in 1993.

Mr. Allen, who was president and chief executive officer, left in unusual circumstances in 1998 when he relinquished his shares and left the company.

It appears, according to previous annual reports, the company was left behind with guaranteed bank loans, unsecured cash advances and unpaid bills.

Mr. King took over the helm and became president of the company in December 1998. The first thing he did was persuade Mr. Ferris to come out of semi-retirement and come back and run the restaurant and bar. He was in place by March 1999 and had refurbished the inside and out of the establishment by the end of the year.

In just one year all overdrafts have been paid off and the company is once again on an even keel. And they are keen to put the past seven years of management of the restaurant behind them.

Mr. King and Mr. Ferris are keen to prove that the company is healthy again and want to show this with years of good results under their belt.

Mr. Ferris said the first thing he did when taking over the restaurant once again was to bring down the overheads.

"I took one look at the figures and saw that we had to increase sales and reduce costs. We have seen a 2.5 percent decrease in costs and that is where the bottom line has greatly improved.'' Mr. Ferris attributes the success of the company to good staff who are dedicated and give good service.

"You need staff who will be dedicated to the job, offer good service and treat people the way they would like to be treated in a restaurant,'' said Mr.

Ferris.

Henry VIII set for profitable reign "We have very good staff, but it is hard to find staff to train. It is a problem in the industry. People are easily able to earn a wage working 9 to 5, so why work unsociable hours and weekends? And you have to be dedicated and that is hard to find.'' Mr. Ferris said that Henry VIII had many Bermudian staff, but said that it was necessary to recruit from abroad. And he added it was difficult recruiting staff from abroad, getting through immigration and finding accommodation for foreign staff, adding to the burden of day-to-day running of the company.

He singled out chef Roman Lesnianski and assistant chef Mirosianv Likins for doing a excellent job in the kitchens, which are in need of refurbishment, and bar manager Neil Virgil, who has been at the establishment for decades.

Mr. King said that the company would do better if restaurants were included alongside hotels in getting tax exemptions for carrying out refurbishment. Mr.

King said: "If we could get an exemption, it would be a big help. We have very well heeled visitors in Bermuda with money to spend. But they need to get good service and that includes the way a place looks.'' While the restaurant and bar are getting back on their feet financially, Henry's Pantry, which is a liquor store which sells newspapers and bus passes, has been doing a steady trade.

Mr. King said: "While the restaurant is more reliant on hotels and seasonal tourism -- we are building up our regular locals as well -- the shop is more even all year.'' And the concession at Horseshoe, which the company has had for two years selling snacks and renting sun loungers and umbrellas, is also doing well.

Mr. Ferris said:"It is on a three-year lease. It is harder to get staff because it is only open on a seasonal basis, and we are continually having to find new staff each year, but it is doing fine.''