Clarkson H1 Earnings, Revenue Improve

Clarkson Plc (CKN.L), a British provider of shipping services, on Monday reported a rise in earnings for the six-month period to June 30, supported by Support, Research, and Broking segments.

For the first-half, the London-headquartered firm posted a pre-tax income of 52.2 million pounds, higher than 42 million pounds, recorded for the same period of 2022.

Underlying profit before taxation improved to 53.1 million pounds from 42.2 million pounds of 2022.

Net profit was at 40.8 million pounds or 129.8 pence per share as against last year’s 33 million pounds or 97.8 pence per share.

Operating income stood at 48.7 million pounds, compared with 42.4 million pounds of 2022.

Trading profit improved to 306.3 million pounds from previous year’s 256.3 million pounds.

The Support division reported 3.4 million pounds in profit, compared with 2 million pounds a year ago.

Profit from the Research division stood at 3.7 million pounds, compared with 3.4 million pounds in the same period last year.

Divisional profit from Broking amounted to 58.2 million pounds as against last year’s 47 million pounds.

Clarkson generated revenue of 321.1 million pounds, higher than previous year’s 266.7 million pounds.

The Board has declared an interim dividend of 30 pence per share, higher than last year’s 29 pence per share, to be paid on September 15, to shareholders of record on September 1.

Looking ahead, the company said: “…While mindful of the currency headwinds and softening rate environment, which are expected to result in a more balanced split between the first and second half, our expectations for the full year are unchanged.”

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