Clarkson PLC
23 November 2007
23 November 2007
CLARKSON PLC
Sale of freight ferry for €5.4 million
The Board of Clarkson PLC ('Clarkson') is pleased to announce the sale of its
freight ferry, the CFF Seine, which currently operates in the Irish Sea. The
ferry, part of Clarkson's non-core logistics business, has been sold to Express
Shipping A/S for a cash consideration of €5.4 million (£3.8 million). The sale
is expected to complete by early December and the proceeds will be reinvested in
Clarkson's core business.
The value of gross assets disposed of will be £1.7 million and for the ten
months to 31 October 2007 the ship generated £0.5 million of trading losses
before tax (2006 full year losses £1.0 million). The pre-tax profit on sale of
£2.1 million, along with the accumulated trading losses up to the point of sale,
will be treated as a discontinuation of the non-core ferry logistics operation
in the 2007 financial statements.
Enquiries:
Clarkson PLC 020 7334 0000
Richard Fulford-Smith, Chief Executive Officer
Jeff Woyda, Finance Director
Hudson Sandler 020 7796 4133
Jessica Rouleau/Fran Read
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.