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.
Summary
- Robust performance despite continued challenging market
conditions in some of our markets
- Strong performance from broking division in tankers,
specialised products and gas markets
- Clarksons Platou Securities completed a number of significant
transactions with pipeline looking strong for the second half of
2015
- Completed acquisition of RS Platou ASA and integration
progressing in line with plans
Rebranding of broking and financial services under the banner
Clarksons Platou now complete
Merged teams in London, Oslo and New York
Financials
- Revenue1 increased by 30% to £145.3m (2014: £111.7m)
- Underlying profit before taxation*1 49% ahead at £23.6m
(2014: £15.8m)
- Underlying earnings per share*1 54.3p (2014: 62.2p)
- Increased interim dividend 22p per share (2014: 21p per
share)
- Strong balance sheet, with £86.7m of net funds2
underpinning long-term growth
1 Including 5 months post-acquisition results
of RS Platou ASA
2 Net funds is cash and cash equivalents, less
overdrafts and bonus entitlements
* Before exceptional items and acquisition
costs
Andi Case, Chief executive, commented:
"The multi-cyclical and volatile nature of our markets has once
again been demonstrated by the sudden shift in oil and other
commodity prices, giving rise to a consequential change in the
demand supply balance in many markets. Across our broking and
banking businesses, this backdrop has created both opportunities
and challenges. The group made a solid start to the year, testament
to the strength and breadth of our strategy and unique client
offer.
"The acquisition of RS Platou completed during the first quarter
and we are delighted with the level of interaction between the
teams, the pace of integration and the reaction of our clients to
the improved service.
"As previously outlined, the delivery profile of our activities
in broking and financial will result in a weighting in performance
towards the second half of the year. Whilst we are mindful of the
ongoing headwinds in a number of our markets, our strategy has
proven to be robust in this trading environment and with a strong
balance sheet underpinning our business model we have confidence in
Clarksons' prospects for continued progress in the second
half."
Enquiries:
Clarkson PLC - 020 7334 0000
Andi Case, Chief executive
Jeff Woyda, Finance director
Hudson Sandler - 020 7796 4133
Kate Hoare
Katie Matthews
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