Thread by @MoneyMax101

JUST IN: Dolphin Cove has released their results for 2020 (yes, today Sun Apr 11)... and no surprise here... the pandemic has affected them badly

The pandemic has wiped out more than 70% of their sales😣

Imagine that... and you still have to feed the animals😟🧵

Their biggest earner - sales from hotels🏨, cruise ships🚢 and walk-in guests🚶‍♂️ - that's down 🔻72%

The other big contributor, sales from their restaurants👨‍🍳, gift shops🎁, photo shops📸 and other adventure tours🐎 is also down 🔻70%

Terrible

And they can't lay-off the animals 🐬 and all the staff.
They still have to feed & care for them

So imagine your business with sales 🔻70% but you still have costs

For 2020 they made a crazy US$1.1m loss compared to a U$1.6m profit in 2019

The vaccines could not come sooner

Thankfully, they have enough cash and other resources to sustain themselves until things pick up

Look at all the steps they've had to take to sustain themselves..

 Monitor & reduce money owed to them
 Negotiate extended credit terms with suppliers
 Close its parks from March to July 2020😖
 Cut its non-critical staff and agree salary reduction for all staff

Plus..

 Defer planned non-essential capital expenditure
 Reduce non-critical overheads and directors’ fees
 Obtain a credit line facility of J$140 million to support their cash needs
 Negotiate suspension of rental charge for properties at certain locations