Clarksons: World’s leading shipbroker reports improved six month results

Clarkson PLC (Clarksons) is the world’s leading shipping services group. From offices in 18 countries on five continents, we play a vital intermediary role in the movement of the majority of commodities around the world.

Summary
Strong performance in continued challenging market conditions
Revenue increased by 25% to £111.7m (2013: £89.1m) despite currency headwind
Underlying profit before taxation* 46% ahead at £15.8m (2013: £10.8m)
49% increase in underlying earnings per share* 62.2p (2013: 41.8p)
Basic earnings per share** 53.1p (2013: 32.7p) up 62%
Interim dividend 21p per share (2013: 19p per share)
Strong balance sheet, with £74.0m of net funds (31 December 2013: £75.0m)
*Before acquisition and exceptional costs
**After acquisition and exceptional costs

Andi Case, Chief executive, commented:

“Clarksons’ strong performance in the first half of 2014 once again underlines the strength of the company’s strategy and business model. Clarksons continues to make positive strides despite the challenges that remain in shipping markets and the weakness in the US dollar.
“We have seen some tentative signs of recovery in certain areas of the market. Our ‘best in class’ service, unrivalled market knowledge and the breadth of our offer, ensure that Clarksons will be at the forefront of the market recovery as and when we see sustained improvements.”

Source: Clarkson PLC