Clarkson PLC AGM Statement (0169F)
12 May 2017 - 9:00PM
UK Regulatory
TIDMCKN
RNS Number : 0169F
Clarkson PLC
12 May 2017
12 May 2017
Clarkson PLC
("Clarksons" or "The Group")
AGM STATEMENT
Encouraging start to the year
At the Annual General Meeting to be held in London today, James
Hughes-Hallett, Chairman of Clarksons, will make the following
trading statement covering the period from 1 January 2017 to 11 May
2017:
"Our broking business continues to benefit from our best in
class position in all markets, from the transaction volume flow the
Company sees and from the data and market intelligence our
technology investments provide to us and to our clients.
Whilst the average during the period of the ClarkSea index,
which reflects earnings for the main vessel types in shipping, was
similar to the same period last year, our broking business has seen
increased spot negotiations during the period, helping to offset
the lower forward order book from reduced period and newbuilding
activity previously reported. This improvement reflects a general
upturn in activity across most market segments and an increase in
dry cargo rates.
Stronger global financial markets have also led to increased
activity levels in our financial division, with our improved
performance in the second half of 2016 continuing in 2017 to
date.
Our port services business, negatively affected in recent years
by the continued downturn in the North Sea oil and gas industry,
remains challenged but is trading as expected.
Finally, demand for our industry-leading market insights, data
and research is continuing to drive growth in our research
business.
Overall, we are encouraged by the start we have made to the year
and are trading in line with the Board's expectations."
Ends
Enquiries
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Clarkson PLC:
Andi Case, Chief Executive
Jeff Woyda, Finance Director 020 7334 0000
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Camarco
Billy Clegg 020 3757 4983 / 020
Jennifer Renwick 3757 4994
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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 Company's unrivalled expertise and knowledge
with leading technology.
The Group employs 1397 people in 46 different offices across its
four divisions and is number one or two in all its market
segments.
The Company has delivered 14 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 the
upturn 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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