AGM Trading Statement
("the Company" or "Clarksons")
11 May 2023
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 10 May 2023.
The Group has enjoyed a positive start to the year. The green transition and supply-side constraints are driving activity across our sectors and Clarksons remains well positioned for the future.
· The Broking division, which is a market leader in all key shipping sectors, continues to be the main driver of revenue and profit and has performed strongly during the period. Activity remains at similar levels to last year whilst rates in some markets have recently softened.
· The Financial division has performed in line with last year to date, successfully executing a number of deals in more challenging capital markets.
· The Research division is currently ahead of 2022, its growth trajectory driven by increased demand for sector research, particularly in relation to the energy transition.
· The Support division is also performing ahead of 2022. We were delighted to announce the acquisition of DHSS in February and we expect to see growth in this area.
· The Sea/ platform continues to make progress providing SaaS solutions to increased numbers of clients.
Despite the currently weaker US dollar, the Board's expectations for the year remain unchanged. The medium-term outlook for shipping is positive and we remain confident in the outlook for the business as we continue to drive value for all stakeholders.
Details on how to join the AGM can be found in the Notice of Meeting.
For further details please contact:
Andi Case, Chief Executive Officer
Jeff Woyda, Chief Financial Officer and Chief Operating Officer
Tel: +44(0) 20 7334 0000
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 1,800 people in 56 different offices across its four divisions and is number one or two in all its market segments.
The Company has delivered 20 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