Restaurant company Long Botham Boats Company Ltd., recorded flat net income for the 2003 financial year ? a direct reflection on last year?s dismal tourism season.

Pual King, president of Long Botham, which owns Henry VIII Restaurant and the Robin Hood pub and restaurant , said net income fell $4,897 or 0.75 percent to $646,798.

?Clearly, any such decline is worrisome but having regard to the fact that our traditional busy season has been dramatically curtailed since September 11, 2001, we cannot complain given the number of months of off-season has increased exponentially,? Mr. King said.

?Tourism numbers did improve in May and June but we did not see a commensurate increase in spending. Finally, Hurricane Fabian brought the already abridged ?peak? season to a screeching halt on September 5, 2003.?

Mr. King also said that the company?s loss of the Horseshoe Bay Beach concession would affect the company?s performance in the near term.

?We are pleased to note that the Pantry continues to perform well and may prove the focus of our attention over the next year as we consider viable opportunities to improve profit margins,? he said.

Mr. King said that The Robin Hood was functioning well once it retired its debt, ?it will prove a worthy successor to the Horseshoe Beach concession?.

He added that Long Botham had retired its bank debt, resulting in ?both a timely and significant reduction in cash flow requirements?.

Mr. King also said the companyw as optimistic that the 2004 tourism season would be better, given that the Fairmont Southampton Princess and the Sonesta Beach Hotels would be re-opening in the spring.