Clarkson PLC

Earnings Release • Apr 23, 2018

National Storage Mechanism | Additional information

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RNS Number : 6992L

Clarkson PLC

23 April 2018

23 April 2018

CLARKSON PLC

Trading Update

Clarkson PLC ("Clarksons") issues the following trading update.  

During the first quarter, Clarksons faced certain headwinds. The challenging environment in shipping and offshore capital markets has led to transactions being pushed back within the financial segment and has compounded a quiet period in sale and purchase activity for the group across shipping and offshore. Further, the group has suffered from lower freight rates within the tanker market and a fall in the value of the US Dollar, the predominant trading currency of the group's banking and broking businesses.

Together these have resulted in financial performance that is below that previously expected by the Board. Consequently, whilst it is still too early to determine the exact impact, profits for both the first half and the full year are now anticipated to be materially below those of last year.

Company enquiries:

Clarkson PLC                                                                                       020 7334 0000

Andi Case, Chief Executive Officer

Jeff Woyda, Chief Financial Officer and Chief Operating Officer

Camarco                                                                                               020 3757 4983 / 4994

Billy Clegg

Jennifer Renwick

About Clarkson PLC

Clarkson PLC is the world's leading provider of integrated services and investment banking capabilities to the shipping and offshore markets, facilitating global trade.

Founded in 1852, Clarksons offers its diverse and growing client base an unrivalled range of shipbroking services, sector research, on-hand logistical support and full investment banking capabilities in all key shipping and offshore sectors.

The Company has delivered 15 years of consecutive dividend growth. The highly cash generative nature of the business, supported by a strong balance sheet, has enabled Clarksons to continue to invest to position the business to capitalise on the upturn in its markets.

Clarksons is listed on the main market of the London Stock Exchange under the ticker CKN and is a member of the FTSE 250 Index.

For more information, visit www.clarksons.com.

The information contained within this announcement is deemed by Clarksons to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014.  Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain. The person responsible for arranging the release of this announcement on behalf of Clarksons is Jeff Woyda, Chief Financial Officer and Chief Operating Officer.

This information is provided by RNS

The company news service from the London Stock Exchange

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