Clarkson shares rise as half-year profit beats market forecasts
Clarkson PLC on Monday upped its half-year dividend as the shipping services provider hailed ‘another good performance’ in the face of uncertain market conditions.
Shares in the company rose 8.0% to 3,689.50 pence each in London on Monday morning.
In the six months to June 30, pretax profit fell by a quarter to £37.5 million from £50.1 million. Revenue declined 4.0% to £297.8 million from £310.1 million.
Underlying pretax profit fell 23% to £39.4 million from £51.5 million a year prior.
Brokers said the Clarkson results were above expectations. Peel Hunt said the underlying profit outcome beat its forecast of £38.0 million. Panmure Liberum said the figure was 2% ahead of its prediction.
Chief Executive Officer Andi Case said: ‘Clarksons has delivered another good performance in the first half of the year, demonstrating the resilience and adaptability of our business in what remains a highly complex global environment. While we have continued to navigate a backdrop of shifting economic conditions and evolving trade dynamics, our diversified model and disciplined approach have enabled us to maintain momentum.
‘We will continue our commitment to invest in people, technology, and market intelligence to ensure that we are well positioned to support our clients and deliver long-term value.’
Clarkson lifted its interim dividend by 3.1% to 33 pence from 32p.
Clarkson expects its outcome for the year to be second half weighted.
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