Clipper Ventures Plc, the marine events company founded by Sir Robin Knox-Johnston in 1995, has issued a profits warning and put its Zapcat Racing subsidiary up for sale.
 
RKJ: Clipper Ventures puts out profits warning The company said operating profits for the current financial year were likely to be ‘significantly lower than management's expectations in November 2008’, at about £800,000.

The company said it was ‘actively seeking buyers’ for Zapcat, the Gosport based subsidiary that runs what it claims is the largest one-design powerboat race series in the world.

Zapcat faces 'a very difficult event-sponsorship environment', said Clipper.