Yachting group Clipper Ventures said a shake-up of its corporate entertainment division had led to a surge in full-year turnover.
Clipper runs two around-the-world yacht races but also has a corporate hospitality arm, where companies can either rent yachts for client entertainment or compete in one-day events.
The company, chaired by round-the-worldyachtsman Sir Robin Knox-Johnston, spent much of the year building up the arm by improving marketing, discontinuing its non-core clothing line and introducing new events such as the UK Industry Challenge.
The changes led to a significant improvement in sales, with turnover up from £1.6 million for the 15 months to April 2000, to £2.7 million for the year to April 30.
Sir Robin said: "Significant progress has been made during the year.
We have built an exciting, cashgenerative business."
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