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.
