Trading Statement at AGM

RNS Number : 1170L

Clarkson PLC

11 May 2022

 

CLARKSON PLC

("the Company" or "Clarksons")

11 May 2022

AGM Trading Statement

At the Annual General Meeting to be held in London today, Laurence Hollingworth, Chair of Clarksons, will make the following trading statement covering the period from 1 January 2022 to 10 May 2022.

Trading

The Group has made a good start to the year. Our market-leading position, outstanding teams, global footprint and diverse offering have enabled the Company to benefit from improved conditions across many of the shipping sectors in which we operate. The ClarkSea Index averaged 37,190 between 1 January 2022 and 29 April 2022, ahead of the same period last year and similar to the average for the second half of 2021.

Our Broking business has performed well, building on the improved demand supply dynamics highlighted in our 2021 Annual Report. As expected, an increase in spot business transacted, compared to the same period last year, has added to the enlarged forward order book brought into 2022.

The Financial division has started the year well and has an encouraging pipeline, despite more muted capital markets reflecting global geopolitical instability and economic uncertainty.

The Research division's positive trajectory continues, increasing both revenues and profit as changing commodity trade flows, the green transition and the ongoing drive towards renewable energy have all increased client demand for our industry-leading market insights, data and analysis.

The Support division also started the year positively as it enlarges its footprint and range of services offered.

Maritech, Clarkson's wholly owned SaaS provider focused on pre- and at-trade services, has continued to make good progress with growth in both client adoption and transaction volumes on the Sea/ platform. The Group is delighted to have welcomed Peter Schrøder as the new CEO of Maritech from 19 April.

Outlook

The Company is trading in line with the Board's expectations. The outlook for the business remains strong as we continue to drive value for both shareholders and clients.

For further details please contact:

Clarkson PLC

Andi Case, Chief Executive Officer

Jeff Woyda, Chief Financial Officer and Chief Operating Officer

Tel: [phone]

Camarco

Billy Clegg

Jennifer Renwick

Tel: [phone] / 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 52 different offices across its four divisions and is number one or two in all its market segments.

The Company has delivered 19 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 .

 

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