Clarkson releases Unaudited Interim Results for the 6 Months Ended 30 June 2009

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

31 Aug 2009

Clarkson PLC (‘Clarksons’) is the world’s leading shipping services group. It has 20 offices on five continents whose services and expertise facilitate the efficient functioning of global seaborne trade. Summary • Encouraging result for the first six months of the year, in line with board expectations
• Revenue £88.9m (2008: £118.1m); reflecting weaker market conditions in shipping as a result of reduced global trade
• Operating profit £11.6m (2008: £17.7m)
• Profit before taxation £11.2m (2008: loss £1.9m, after exceptional charge)
• Basic earnings per share 42.1p (2008: loss per share 9.6p)
• Dividend maintained at 16p
• Maintained market share across all areas of our business
Andi Case, Chief Executive of Clarksons commented:
“The Clarksons team has produced an encouraging result for the first six months of 2009 in line with the board’s expectations.”
“The diversification of Clarksons across global shipping markets, coupled with the strength of our specialist teams means we are well placed to trade through more challenging market environments.”
Chairman’s statement
Clarksons’ unrivalled market knowledge and expertise are core strengths that underpin the group’s ability to deliver market leading shipping services to our global client base. The turbulence that has characterised the first half of 2009 in both the global economy and shipping markets has increased demand for timely market data and expert advice across all our offices and business lines.
Against a background of significantly reduced freight rates and asset values, limited availability of credit and uncertainty with regards to the speed of recovery of the global economy, the Clarksons team has produced an encouraging result for the first six months of 2009. On behalf of the board I congratulate and thank the whole Clarksons team for their continued hard work, initiative and commitment.

Source: Clarksons