Clarkson PLC, the London-listed provider of shipping services, announced that its pretax profit for the first half of the year has increased. This was primarily due to a strong performance from its broking segment. The company also stated that its expectations for the full year remain unchanged.
According to the financial results released on Monday, pretax profit rose to £52.2 million, compared to £42 million in the same period last year. Revenue also saw a significant increase, reaching £321.1 million from £266.7 million.
Clarkson highlighted the outstanding performance of its broking team during the first half, particularly in the tanker, specialized product, gas, offshore, and sale and purchase sectors. Divisional profit rose to £58.2 million, reflecting a 22.6% margin, compared to 22.3% in the previous year.
The Chairman of Clarkson PLC, Laurence Hollingworth, stated that the broking team is the primary driver of profit for the company. Emphasizing their commitment to growth, he mentioned their intention to recruit and develop talented individuals across all areas of the business.
The company noted that fleet supply growth remained constrained, with a focus on new-build orders for containers and gas carriers, resulting in historically low levels of tanker and dry bulk orders.
In addition to the positive financial results, the board declared an interim dividend of 30 pence per share, representing an increase from 29 pence in the previous year.