Trading Update

RNS Number : 4056E

Clarkson PLC

03 November 2015

 

3 November 2015

CLARKSON PLC

TRADING UPDATE

Clarkson PLC (Clarksons) is the world's leading shipping services group. From offices in 20 countries on six continents we play a vital intermediary role in the movement of the majority of commodities around the world.

The multi-cyclical and volatile nature of our markets has continued to pose both opportunities and challenges in the second half of 2015. This has benefitted some areas of our broking business including tankers, specialised products and gas, underpinning a strong performance in 2015. However, the dry bulk market remains severely depressed and the low oil price continues to put offshore operators under significant pressure, giving rise to contract slippage and cancellation.

Against this backdrop, activity levels in maritime capital markets have been negatively impacted, with limited activity in the second half to date affecting the results of our Financial division.

Notwithstanding the challenges faced in banking and broking we now anticipate the adjusted profit before tax for the year to be in the region of £50m.

The Board remains confident in the prospects for the Group. We have a unique, market-leading offer which has been further strengthened by the integration of RS Platou ASA. With a strong balance sheet underpinning our business model we therefore remain well placed for long-term growth.

Enquiries:

Clarkson PLC	020 7334 0000
Andi Case, Chief executive
Jeff Woyda, Finance director
Hudson Sandler	020 7796 4133
Andrew Nicolls Kate Hoare

 

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