The Aim-listed company said that trading in the final quarter of the year had “improved slightly” thanks to a better lates market.
“Subject to audit, the group now expects to have delivered broadly neutral profit before tax for the year,” the firm said in a trading update.
"Trading conditions are expected to remain very challenging, especially in view of the escalating conflict in the Middle East and recent acts of terrorism, and the effect these events may have on consumers’ propensity to travel."
The company had previously warned that it would make a small loss.
All Leisure has suffered from both ship issues and geo-political problems during the year.