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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Clipper Ven. | LSE:CLV | London | Ordinary Share | GB0002643566 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 6.625 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number : 4199L Clipper Ventures PLC 09 January 2009 09 January 2009 Clipper Ventures plc Trading Update Clipper Ventures Plc ("Clipper", the "Company" or the "Group"), the AIM quoted ocean racing company, today announces that since the publication of the Company's half year results, on 27 November 2008, economic uncertainty has continued, which has lead to price reductions in the Corporate Entertainment market. As a consequence the Company has taken the decision to reduce its expected level of sales and its margins in its Corporate Sailing Division. Similarly the market for Sail Training is proving difficult and as such the Company has reduced its expected level of income in this division. The Company is not expecting to see an operating profit for the year to 30 April 2009 from its subsidiary Zapcat Racing Ltd, which is facing a very difficult event sponsorship environment. As part of a general cost review the Company is actively seeking buyers for the division. Neither a profit nor a loss on disposal is included in the Company's forecasts. As a result of these revisions of expectation the Group anticipates its operating profit for the year ending 30 April 2009 may be around £800,000, significantly lower than management's expectation in November 2008, and the Group does not expect to see significant growth in profitability while the economic environment remains challenging. ***ENDS*** For further information, please contact: Clipper Ventures plc Tel: +44 (0) 2392 526000 William Ward Chief Executive Jeremy Knight Finance Director HB Corporate Tel: +44 (0) 2075 108600 Imran Ahmad/Edward Cozens This information is provided by RNS The company news service from the London Stock Exchange END TSTBLMITMMIMBIL
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