Industrial Transportation (2770)

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Clarksons interim profits rise amid 'strong' trading

By Michele Maatouk

Date: Monday 09 Aug 2021

LONDON (ShareCast) - (Sharecast News) - Shipping services group Clarksons reported a jump in interim profit and revenue on Monday as it hailed "strong" trading across all areas of the business.
In the six months to the end of June 2021, reported pre-tax profit rose to £27.3m from £20.9m in the first half a year prior, on revenue of £190.1m, up from £180.4m.

Underlying pre-tax profit came in at £27.5m from £21.1m the year before and the company declared an interim dividend of 27p a share, up from 25p.

Chief executive Andi Case said the demand/supply dynamics of the shipping market have turned positive, helped by the green transition, its impact on the global shipping fleet and the beginnings of economic recovery from the pandemic. He said the group's first-half performance reflected the early days of these changing trends.

"The company generated significantly increased profits in the first half of the year, aided by a robust performance in our broking division and a strong recovery from our financial division. I am also excited by the progress and momentum that our Sea/ platform is building," Case said.

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