Interim Management Statement
10 Novembre 2010 - 8:00AM
UK Regulatory
TIDMCKN
RNS Number : 9067V
Clarkson PLC
10 November 2010
10 November 2010
CLARKSON PLC
("Clarksons")
Interim Management Statement
Clarksons, the world's leading integrated shipping services group, today
announces its Interim Management Statement published in accordance with the UK
Listing Authority's Disclosure and Transparency Rules, for the period from 1
July 2010 to 9 November 2010.
Trading
The trading performance outlined at the time of the Group's interim results in
August has been maintained during the period. The strength of Clarksons' global
offer and breadth of our operations across shipping and its related markets has
positioned us well, and trading since the start of the second half has continued
in line with the Board's expectations.
Broking
There has been a softening in some freight rates since the half year end and as
previously highlighted, a sustained shift from time charter to spot market
business, reflecting the disconnect between current rates and expectations for
the speed and sustainability of the global recovery.
Levels of new business written by our expert teams and market share have
increased across nearly all of our broking divisions. 2010 has seen particularly
strong performances from our Dry Bulk, Offshore and Sale and Purchase
businesses.
Financial
During the period Clarkson Investment Services has started to produce revenues,
including one completed project advising on a $105 million investment into a
Middle East oilfield services business. The team continues to secure and work
on a number of mandates.
Support
Port and agency has performed well over the period and continues to trade at
record levels. Logistics is one of the Group's non-core activities and during
the period we were pleased to complete the sale of MT Hermien to Panre Agility
Corporation for a total cash consideration of $7.3m. In line with the
previously outlined strategy, this sale represents the final stage in the exit
of Clarksons from ship-owning activities.
Research
Clarksons' market leading research continued to show growth during the period.
Shipping Intelligence Network, our flagship database which recently celebrated
its 10th anniversary with a complete re-launch, has continued its consistent
growth, reinforcing the essential position that research plays within Clarksons'
offering.
Outlook
This performance is testament to the strength of Clarksons' market leading teams
and the breadth of our truly global operations, and continues on from our first
half results. Whilst the ongoing prevalence of spot broking continues to be
indicative of market volatility and there remains uncertainty over the strength
of the dollar, the Board is confident that the Group will show continued
progress for the remainder of the year.
Enquiries:
+------------------------------+------------------------------+
| Clarkson PLC | 020 7334 0000 |
+------------------------------+------------------------------+
| Andi Case, Chief Executive | |
+------------------------------+------------------------------+
| Jeff Woyda, Finance Director | |
+------------------------------+------------------------------+
| | |
+------------------------------+------------------------------+
| Hudson Sandler | 020 7796 4133 |
+------------------------------+------------------------------+
| Charlie Jack/Kate Hough | |
+------------------------------+------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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