CLV Clipper Ven.

    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 
 
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