Chair’s Review 2025 - Clarkson PLC

A robust business model

Well positioned to adapt, invest and lead through the clarity of our strategic vision.

As I reflect on 2025, it is clear that this has been a year defined by extraordinary geo-political and economic complexity. The global business environment was shaped by heightened uncertainty, with the first half of the year marked by significant political shifts, escalating tariff regimes, and the increase in use of sanctions by government authorities. These dynamics created a period of significantly reduced activity across many industries, with companies facing unprecedented challenges in decision making and market engagement.

Despite these headwinds, the second half of the year started to see renewed momentum. Market sentiment improved, and businesses began to move beyond the earlier standstill, as larger players actively re-engaged in transactions and Clarksons supported its clients through turbulent times. Our ability to adapt, invest and lead in this environment is a testament to the strength and expertise of our global teams and the clarity of our strategic vision.

Results

In the year to 31 December 2025, Clarksons delivered an underlying profit before taxation of £90.6m, reflecting the robustness of our business model in responding to the market uncertainty and complexity. This performance underscores the success of our strategy to invest in growth, broadening our geographic presence, expanding the products we service, enhancing our technology and tools for trade and continuing to build the scale and market leadership necessary for sustained success. Our strong cash reserves have also enabled us to maintain a focus on investment and strategic M&A activity throughout the year.

Dividend

In line with our progressive dividend policy, and reflecting our strong cash position, the Board is recommending an increased final dividend of 79p per share, bringing the total dividend for 2025 to 112p per share (2024: 109p), an increase of 3% and the 23rd consecutive year of dividend increase.

"In 2025, we continued to invest globally in talent, making key hires and promotions across the business, strategically locating our staff nearer to our clients and expanding our product range."

Laurence Hollingworth

Chair

People

Our people remain our most important asset and the foundation of our success. In 2025, we continued to invest globally in talent, making key hires and promotions across the business, strategically locating staff nearer to our clients and expanding our product offering. Our strategy of diversifying talent by geography, division and skill set has strengthened our capabilities and deepened our expertise. We are proud to attract and retain the best talent in the industry, and I extend my sincere thanks to every member of the Clarksons team for their dedication and hard work during what has been a challenging year.

Board

In September 2025, our CFO & COO, Jeff Woyda, announced his decision to retire in 2026 after nearly 20 years of extraordinary service. Jeff has been instrumental in transforming Clarksons into the global leader it is today, and his legacy of strategic delivery, operational excellence and unwavering commitment to our values will endure for years to come. On behalf of the Board and the entire Group, I extend our deepest gratitude for his contribution.

We are undertaking a comprehensive search to appoint a new CFO and COO. We are confident that the new appointee will build upon the strong foundations Jeff has established and, working alongside Andi Case, our CEO, and the Board, drive our continued growth and the successful execution of our strategy.

Outlook

Looking ahead, we recognise that macro-economic and geo-political unpredictability will continue to shape the global landscape. However, Clarksons’ diversified footprint and strategic investments position us exceptionally well to respond to evolving market conditions. Our strong balance sheet, free cash flow and forward order book provide a solid foundation for the year ahead and further into the future.

I would like to thank all our shareholders, clients, employees and partners for their continued support and confidence in Clarksons. Together, we have navigated a challenging year successfully, and I am optimistic about the opportunities that lie ahead.

Laurence Hollingworth
Chair
6 March 2026

Back to Highlights

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Chair's review 2025