03 November 2015

Trading Update

Clarkson PLC (Clarksons) is the world's leading shipping services group. From offices in 20 countries on six continents we play a vital intermediary role in the movement of the majority of commodities around the world.

The multi-cyclical and volatile nature of our markets has continued to pose both opportunities and challenges in the second half of 2015. This has benefitted some areas of our broking business including tankers, specialised products and gas, underpinning a strong performance in 2015. However, the dry bulk market remains severely depressed and the low oil price continues to put offshore operators under significant pressure, giving rise to contract slippage and cancellation

Against this backdrop, activity levels in maritime capital markets have been negatively impacted, with limited activity in the second half to date affecting the results of our Financial division.

Notwithstanding the challenges faced in banking and broking we now anticipate the adjusted profit before tax for the year to be in the region of £50m.

The Board remains confident in the prospects for the Group. We have a unique, market-leading offer which has been further strengthened by the integration of RS Platou ASA. With a strong balance sheet underpinning our business model we therefore remain well placed for long-term growth.

Enquiries:

Clarkson PLC:
Andi Case, Chief Executive Officer
Jeff Woyda, Finance Director
020 7334 0000

Hudson Sandler:
Jessica Rouleau / Kate Hough
020 7796 4133