23rd Nov 2007 11:48
Clarkson PLC23 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 itsfreight ferry, the CFF Seine, which currently operates in the Irish Sea. Theferry, part of Clarkson's non-core logistics business, has been sold to ExpressShipping A/S for a cash consideration of €5.4 million (£3.8 million). The saleis expected to complete by early December and the proceeds will be reinvested inClarkson's core business. The value of gross assets disposed of will be £1.7 million and for the tenmonths to 31 October 2007 the ship generated £0.5 million of trading lossesbefore 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 operationin the 2007 financial statements. Enquiries: Clarkson PLC 020 7334 0000Richard Fulford-Smith, Chief Executive OfficerJeff Woyda, Finance Director Hudson Sandler 020 7796 4133Jessica Rouleau/Fran Read This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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