Clarksons Sees Profit Hike

Clarkson PLC (Clarksons), a London-based provider of integrated shipping services, has recorded a robust overall performance in the first half of 2015 despite continued challenging market conditions in some of the markets it operates in.

 Strong performance was reported from broking division in tankers, specialised products and gas markets, the group said in its unaudited results.

Specifically, the group’s revenue for the six months ended 30 June, 2015 increased by 30% to £145.3 million (USD 227.2 million), a jump from £111.7 million reported in 2014.

Clarksons said that its underlying profit before taxation was 49% ahead at £23.6m (2014: £15.8m) with underlying earnings per share of 54.3p (2014: 62.2p).

The group’s interim dividend increased 22p per share (2014: 21p per share) and its balance sheet stood at  £86.7m of net funds underpinning long-term growth.

“The multi-cyclical and volatile nature of our markets has once again been demonstrated by the sudden shift in oil and other commodity prices, giving rise to a consequential change in the demand supply balance in many markets. Across our broking and banking businesses, this backdrop has created both opportunities and challenges. The group made a solid start to the year, testament to the strength and breadth of our strategy and unique client offer,” said Andi Case, Clarksons’ Chief Executive.

According to Case, the group is confident in Clarksons’ prospects for continued progress in the second half.

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