Clipper Ventures has disappointed investors with deficits at half time for the past two years and last turned in an interim pre-tax profit, of £75,000, back in 1998. However, the share price was buoyed by 2p to 32.5p after it turned losses of £123,000 into pre-tax profits of £64,000 on sales of £1.4m (£1.68m) for the six months to October. Clipper controls two of the world's five circumnavigation sailing races. 'The Clipper Race' returns later in the year and chairman Sir Robin Knox-Johnston says 'the race continues to fire the public's imagination around the world' and, despite 11 September, bookings of crew places are ahead of the previous 'sell-out' race. Clipper recently revealed that trade groups representing London and Hong Kong will participate in the event and that the two deals could bring in £500,000 worth of sales. Clipper's other event is the 'Around Alone' contest, a 28,800-mile solo circumnavigation sailing event held every four years. The 2002 race will be the sixth in total and the first under Clipper's ownership and management. In the year ending April 2001, the company boosted sales by 71% to £2.8m and managed to reduce pre-tax losses from £1.2m to £417,700. Founded in 1995 by Knox-Johnston, the first man to sail single-handedly around the world without stopping, Clipper floated on Aim back in 1999 at 40p.

Clipper Ventures	AIM	£2.83m	7.25p	0.00p
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