Clarkson PLC Trading Statement at AGM (6391X)
05 May 2021 - 8:30PM
UK Regulatory
TIDMCKN
RNS Number : 6391X
Clarkson PLC
05 May 2021
CLARKSON PLC
("the Company" or "Clarksons")
5 May 2021
Trading Statement at AGM
At the Annual General Meeting to be held in London today, Sir
Bill Thomas, Chair of Clarksons, will make the following trading
statement covering the period from 1 January 2021 to 4 May
2021.
Trading
The Group has made an encouraging start to the year, with
improved conditions across many of the shipping sectors in which we
transact. The ClarkSea Index, which reflects earnings for the main
vessel types in shipping, averaged $17,461/day in the first
quarter, up 6.5% on the same period last year, which was largely
unimpacted by COVID-19, and 17.6% higher than the average for
2020.
Our Broking business has performed well, with an increase in new
business executed compared to the same period last year. Our Dry
Cargo, Gas, Sale and Purchase and Container teams have performed
particularly strongly in 2021, offsetting comparative weakness in
the Tanker market due to the exceptional spike in rates seen during
the same period last year. We have also seen continued momentum in
the renewables sector.
The Financial division has had a significantly better period
compared to last year. Improved activity in the global shipping and
offshore capital markets has resulted in higher revenue from
primary transactions within the Securities business, and our
Project Finance teams also started the year well.
Research continues to execute its business model effectively,
with revenues in the first quarter in line with expectations and
prior year. Demand for our industry-leading market insights, data
and research continues to drive growth in this area.
The Support division has performed in line with expectations,
and Maritech, Clarkson's wholly owned SaaS provider, continues to
make progress with client adoption and the rollout of the Sea/
platform.
Outlook
As outlined in our results for 2020, whilst the strength of
Sterling against the dollar is a headwind given the majority of our
revenue is earned in USD, the medium-term outlook for shipping is
positive as demand / supply dynamics continue to steadily improve
and we have continued to invest in growth in this context. Our
geographically and operationally diverse offering, in addition to
our market-leading position, means that we remain well-positioned
to capitalise on the opportunities arising from the expected global
economic and trade recovery and the green transition in
shipping.
Overall, we are trading in line with our expectations and have
made an encouraging start to the year, which we continue to believe
will be second half weighted.
For further details please contact:
Company enquiries:
Andi Case, Chief Executive Officer
Jeff Woyda, Chief Financial Officer 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 1,600 people in 53 different offices
across its four divisions and is number one or two in all its
market segments.
The Company has delivered 18 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
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END
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