Clarkson PLC AGM Statement (0169F)

TIDMCKN

RNS Number : 0169F

Clarkson PLC

12 May 2017

12 May 2017

Clarkson PLC

("Clarksons" or "The Group")

AGM STATEMENT

Encouraging start to the year

At the Annual General Meeting to be held in London today, James Hughes-Hallett, Chairman of Clarksons, will make the following trading statement covering the period from 1 January 2017 to 11 May 2017:

"Our broking business continues to benefit from our best in class position in all markets, from the transaction volume flow the Company sees and from the data and market intelligence our technology investments provide to us and to our clients.

Whilst the average during the period of the ClarkSea index, which reflects earnings for the main vessel types in shipping, was similar to the same period last year, our broking business has seen increased spot negotiations during the period, helping to offset the lower forward order book from reduced period and newbuilding activity previously reported. This improvement reflects a general upturn in activity across most market segments and an increase in dry cargo rates.

Stronger global financial markets have also led to increased activity levels in our financial division, with our improved performance in the second half of 2016 continuing in 2017 to date.

Our port services business, negatively affected in recent years by the continued downturn in the North Sea oil and gas industry, remains challenged but is trading as expected.

Finally, demand for our industry-leading market insights, data and research is continuing to drive growth in our research business.

Overall, we are encouraged by the start we have made to the year and are trading in line with the Board's expectations."

Ends

 
 Enquiries 
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  Clarkson PLC: 
  Andi Case, Chief Executive 
  Jeff Woyda, Finance Director           020 7334 0000 
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  Camarco 
  Billy Clegg                      020 3757 4983 / 020 
  Jennifer Renwick                           3757 4994 
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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. Clarksons continues to drive innovation across its business, developing digital solutions which underpin the Company's unrivalled expertise and knowledge with leading technology.

The Group employs 1397 people in 46 different offices across its four divisions and is number one or two in all its market segments.

The Company has delivered 14 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.

This information is provided by RNS

The company news service from the London Stock Exchange

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May 12, 2017 07:00 ET (11:00 GMT)