REG - Clarkson PLC - AGM Trading Statement

ClarksonAnnouncement

09/05/2024 12:00

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RNS Number : 8167N  Clarkson PLC  09 May 2024

 

 

 

CLARKSON PLC

("the Company" or "Clarksons")

 

9 May 2024

 

AGM Trading Statement

 

At the Annual General Meeting to be held electronically by video webcast at 12
noon today, Laurence Hollingworth, Chair of Clarksons, will make the following
trading statement covering the period from 1 January to 8 May 2024.

Current Trading

The Group has made a positive start to the year, helping our clients to
navigate the ongoing complexities and disruptions to global trade, by
providing the expertise, data and insights to enable them to make the right
decisions for their organisations.

•     The Broking division continues to perform strongly with spot
business transacted to date in line with last year as expected. The invoicing
profile of the forward order book ("FOB"), together with the increase in
voyage duration arising from lower volumes through the Suez Canal due to
tensions in the Middle East, mean that profits from this division will once
again be second half weighted.

 

•     The Research division has continued to perform well providing its
market-leading data and insights for a broad range of subscribers.

 

•     The Support division has also performed well, with good activity
across port agency, supplies and the provision of safety equipment and
training, offset in part by weaker revenues from lower Suez Canal transit
volumes.

 

•     The Financial division, whilst continuing to build pipeline and
remaining transactionally active, is currently experiencing more challenging
capital markets within our investment banking activities, and a tighter real
estate market affecting our project finance business.

 

•     The Sea platform continues to make progress with the delivery of
Sea Trade 2.0.

 

Outlook

The Board's expectations for the year remain unchanged and the outlook for
Clarksons continues to be positive.

Details on how to join the AGM can be found in the Notice of Meeting.

Ends

 

 

For further details please contact:

 

Clarkson Plc

Andi Case, Chief Executive Officer

Jeff Woyda, Chief Financial and Chief Operating Officer

 

Tel: +44(0) 20 7334 0000

 

 

Camarco:

Billy Clegg

Jennifer Renwick

 

Tel: +44(0)20 3757 4983 / 4994

 

 

About Clarkson PLC

 

Clarkson PLC is the world's leading provider of integrated services and
investment banking capabilities to the shipping and offshore markets,
facilitating global trade.

Founded in 1852, Clarksons offers its diverse and growing client base an
unrivalled range of shipbroking services, sector research, on-hand logistical
support and full investment banking capabilities in all key shipping and
offshore sectors. Clarksons continues to drive innovation across its business,
developing digital solutions which underpin the Group's unrivalled expertise
and knowledge with leading technology.

The Group employs over 2,000 people in over 60 different offices across its
four divisions and is number one or two in all its market segments.

The Company has delivered 21 years of consecutive dividend growth. The highly
cash-generative nature of the business, supported by a strong balance sheet,
has enabled Clarksons to continue to invest to position the business to
capitalise on opportunities in its markets.

Clarksons is listed on the main market of the London Stock Exchange under the
ticker CKN and is a member of the FTSE 250 Index.

For more information, visit www.clarksons.com (http://www.clarksons.com) .

 

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