Clarkson (CKN)

Sector:

Commercial Transport

Index:

FTSE 250

3,515.00p
   
  • Change Today:
    -15.00p
  • 52 Week High: 4,570.00
  • 52 Week Low: 2,675.00
  • Currency: UK Pounds
  • Shares Issued: 30.76m
  • Volume: 95,666
  • Market Cap: £1,081.23m
  • RiskGrade: 171

Clarkson raises profits guidance again to at least £69m

By Frank Prenesti

Date: Friday 07 Jan 2022

LONDON (ShareCast) - (Sharecast News) - Shipping broker Clarksons lifted annual profit guidance for the second time in a month after stronger than anticipated trading in December.
In a short trading statement released on Friday, the company said it now expected said it expected to report underlying profit annual of at least £69m, driven by its broking and financial divisions. Shipping rates have soared on surging demand for containers after disruption from the Covid pandemic.

The provider of integrated shipping services last month lifted guidance after sustained strong trading in the second half of the year as it forecast pre-tax profits of at least £65m.

AJ Bell investment director Russ Mould said Clarkson shares were "sailing back toward their all-time highs although analysts are forecasting that profits will sag slightly in 2022 through to 2023, presumably due to the view that 2021 was a bit of a freak year owing to the global supply chain disruption caused by the pandemic".

"But the shares could steam higher if the global economic recovery proves stronger than expected, emission regulations further tighten supply in the shipping market and Clarkson's customers continue to adopt its Sea/ technology platform," he said.

"This shows that Clarkson is about more than just broking. The FTSE 250 member continues to develop value-added services such as research data and financial services, to help smooth out the effect of the shipping cycle, and its latest innovation is its Sea/ service, which enables clients to monitor fleet performance, book vessels and pay for them, all on the same platform."

"Clarkson is more than just a ship-broker. The company continues to develop value-added services such as research data and financial services, to help smooth out the effect of the shipping cycle, and its latest innovation is its Sea/ service, which enables clients to monitor fleet performance, book vessels and pay for them, all on the same platform.

Mould noted that new environmental regulations for tankers regarding sulphur emissions could force some ships to be scrapped or drydocked as they are refitted.

He added that a lean decade for ship owners had led to a collapse in order books for new ships.

"A strong economic upturn could yet prompt an imbalance between demand for ships and supply of them, boosting shipping rates and also demand for Clarkson's broking, financing and data services."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Clarkson Market Data

Currency UK Pounds
Share Price 3,515.00p
Change Today -15.00p
% Change -0.42 %
52 Week High 4,570.00
52 Week Low 2,675.00
Volume 95,666
Shares Issued 30.76m
Market Cap £1,081.23m
RiskGrade 171

Clarkson Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
89.14% below the market average89.14% below the market average89.14% below the market average89.14% below the market average89.14% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Price Trend Not Available
Income
8.97% above the market average8.97% above the market average8.97% above the market average8.97% above the market average8.97% above the market average
20% below the sector average20% below the sector average20% below the sector average20% below the sector average20% below the sector average
Growth
51.44% above the market average51.44% above the market average51.44% above the market average51.44% above the market average51.44% above the market average
9.09% above the sector average9.09% above the sector average9.09% above the sector average9.09% above the sector average9.09% above the sector average

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 5
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Clarkson Dividends

  Latest Previous
  Interim Final
Ex-Div 29-Aug-24 09-May-24
Paid 13-Sep-24 24-May-24
Amount 32.00p 72.00p

Trades for 31-Oct-2024

Time Volume / Share Price
16:42 3 @ 3,480.00p
16:42 16 @ 3,480.00p
16:42 231 @ 3,480.00p
16:38 1,650 @ 3,515.00p
16:38 1,650 @ 3,515.00p

Clarkson Key Personnel

CEO Andi Case

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