I can take this one. CKN appears to get paid and perform regardless of fluctuations in the cycle. Not saying it is immune to sentiment as a headwind but the EPS story should remain. |
hi mt any thoughts on ckn, and shipping cycle |
Yep fairly soft numbers and it's had a decent run since about Oct and up over 40% over the last year. Not a good day to be issuing just an online forecast. |
Interims have not impressed the market ; revenue and profit both down by 3%. They point out that weighted to 2nd half of year and full year expectations unchanged but greeted by an £8 drop on opening. Recovered £3 now but still an ugly chart now! So much for my enthusiasm last week; commentators curse!
Added at 38.61 though ; seems an over-reaction still. |
Looks like £50 on the horizon. Hold and prosper? |
It is not a concept that is getting much in the way of column inches at the moment; disappeared from British news . |
More companies seem to be reporting their shipping costs are causing issues - Poundland today in the press. |
$5800 this week; a significant drag on world trade but good for brokers. |
Now $5100. |
In the last year, the average shipping costs have gone from about $1600 for a 40ft container to $4200 , and rising fast.
Looks like a good time to be a ship broker. |
Risen £3 already this week ; rather dwarfs the divi. Hold and prosper I reckon. |
XD 72p next week. |
£40 little resistance , ATH soon? |
IC article last week said BUY , pointed out that CKNs different arms tend to protect it from specific shipping problems. |
I like a report that does not use the words headwind or pressure. £40 on the horizon I think.
I see the previous profit forecast of "not less than £108M" was accurate at £109m! |
Decent results as expected. Wish the EPS and revenue was a little higher but cannot complain. Looks like a strong breakout again IMO. |
Finals Monday. |
5 January 2024
Closed Period Trading Update
Clarkson PLC, the world's leading provider of integrated shipping services, today announces that following strong trading throughout the final quarter, particularly from the Broking division, results for the year ending 31 December 2023, are now anticipated to be ahead of current market expectations.
Clarksons' underlying profit before tax, subject to audit, is now expected to be not less than GBP108m.
Clarksons' results will be reported on 4 March 2024.
They made an almost identical statement year ago ,only they said not less than £98M and it turned out to be £102M.
So about 10% up on last year.
2 yrs ago the numbers were significantly less, about £70M , and the share price touched £40. But other things are different of course. |
Containers was potentially a weak point for Clarkson, but that looks more comfortable now with Red Sea attacks: The pause will probably be short term, but I'm not sure how one hardens a vessel as big as these large container ships. |
Yes thanks for that clarification, I didn't appreciate the differential markets.
There are few other opportunities to invest in the Shipping sector on the UK stock exchange, bit of an anomaly really. |
My pleasure. I am expecting Clarkson to beat expectations this year with 237p of EPS forecast and 134p delivered in the first half so we should get a robust trading statement in the first fortnight of January. It is amazing that more investors are not attuned to Clarkson because it has been a stunning long term stock. Jp Morgan recently bumped their target price to 3950p |
Thanks for your insights Harry, you are somewhat of an expert and I trust your views and explanations. I really appreciate your posts. |
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