Clarkson: Shipping giant shrugs off uncertainty to report higher profit
Clarkson has reported robust preliminary results for the year ending 31 December 2024, despite a challenging global shipping environment.
The company, the world’s leading provider of integrated shipping services, offers broking, financial, support, and research services to clients worldwide. It reported revenue of £661.4m, up from £639.4m in 2023.
Underlying profit before taxation rose six per cent to £115.3m, compared to £109.2m the previous year.
Reported profit before taxation reached £112.1m, slightly above 2023’s £108.8m. Underlying basic earnings per share increased four per cent to 286.9p.
Clarkson also reported substantial cash reserves, with free cash resources of £216.3m, an increase from £175.4m in 2023.
The forward order book for invoicing in 2025 hit $231m (£177.9m) at the end of the year, which the company said reflected steady demand despite market headwinds.
The company hiked its dividend by seven per cent, with the full-year payout reaching 109p per share – the company’s 22nd consecutive year of dividend growth.
Clarkson’s biggest division, Broking, had a robust year, supported by what it called an “active sale and purchase market across the new build and secondhand” for ships around the world.
Segmental profit before taxation from Broking was £122.6m at a margin of 23.2 per cent (2023: £121.2m and 23.5 per cent).
Andi Case, CEO, said: “2024 was another year of disruption, complexity, and opportunity for global shipping markets, and against this backdrop, I am immensely proud of the hard work and dedication of all my colleagues in producing another record result.”
Commenting on the outlook for 2025, he added: “The geopolitical outlook remains uncertain as we enter 2025, with ongoing regional conflicts and trade tensions creating uncertainty for markets reflected by freight rates and asset values currently lower than 2024. The resolution or continuation of these events during the year will provide potential headwinds and tailwinds to the Group’s performance as we support our clients through this complexity.”
He reaffirmed the company’s commitment to long-term investments, stating: “Irrespective of near-term headwinds, we remain committed to investing in the business, across people, intelligence and technology to ensure we maintain our market-leading position across all sectors.”