News blog

Clipper Ventures

  • BY: Andrew Hore |
  • POSTED: 01/08/2007 |

Clipper Ventures is on course to increase its profits by more than 50% this year. 

The company runs the Clipper Round the World Yacht race. This is held every two years and the next one starts in September. Contracted sponsorship and crew income is already more than £9m and could rise above £10m. For the first time sponsorship income is set to exceed crew income. This income is recognised over the course of the race so some will be in this financial year and the rest next year. The 2005 race generated revenues of £8.1m.
Clipper made a profit of £925,000 on turnover of £6.98m in the year to April 2007. This year it is forecast to make £1.5m. By the end of next April Clipper could have as much as £6m in the bank including income received but not yet recognised in stated revenues. The company plans to get shareholder permission to buy back shares.

© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds