Shipping services provider Clarksons posts buoyant profit after ‘supply shortage’ in global fleet
Shipping services provider Clarkson has posted a profit boost for the first six months of the year, with underlying profit before tax sitting at £42.2m.
The London-listed firm saw underlying profit before tax rise some 53.5 per cent in the period.
The shipping firm posted £266.7m in revenue for the six months to 30 June, with Clarksons benefiting from a supply shortage in shipping fleets across the world.
Underlying earnings per share increased by 54.5 per cent to 98.9p, compared to 64.0p in 2021.
“I am pleased to report that Clarksons has had a strong first six months of 2022, with a positive performance across all divisions,” Andi Case, chief executive officer, said on Monday morning.
The company’s outlook “remains strong due to the structural supply shortage in the global shipping fleet,” he added.
“We continue to benefit from our international footprint, leading market position, diverse offering and a deep understanding of the energy transition.”
The rate of growth in seaborne trade has slowed while “macro-economic headwinds and inflation pressures build,” the company acknowledged.
“However, changing trade patterns driven by the geo-political situation, ongoing congestion tying up capacity and a complex sanctions regime have all created inefficiencies, and overall demand continues to outstrip supply,” it added.