Clarkson PLC Trading Update (0656D)
04 Luglio 2016 - 8:00AM
UK Regulatory
TIDMCKN
RNS Number : 0656D
Clarkson PLC
04 July 2016
4 July 2016
Clarkson PLC
Trading Update
Clarkson PLC ("Clarksons" or "The Group"), provides today the
following trading update:
Since the AGM, the Clarksea index has fallen a further 10%, so
that its average level for the first six months of 2016 was 30%
lower than for the first half of 2015. The Baltic Dry Index has
similarly fallen sharply year on year, testing all-time lows during
the first quarter of 2016. This deterioration in freight rates
reflects the increase in global economic uncertainty and the
continuing imbalance between supply and demand in shipping and
offshore.
The recent recovery in the oil price has driven the return of
some activity within offshore broking, however the offshore
industry remains depressed and will require this recovery to be
sustained for some time before confidence returns and meaningful
volumes start to come through.
Overall transaction volumes within the broking division have
continued to grow, but the fall in freight rates and asset values
has both impacted revenues and driven the market to be spot
focussed with little newbuilding activity. This combined with quiet
capital markets and weak investor confidence has reduced activity
within the financial division.
Whilst recent strengthening of the US dollar against sterling,
if sustained, will offer some limited enhancement to reported
profits, the Board nevertheless now anticipates that as a
consequence of the challenges referred to above profits for 2016
will be materially lower than the full year 2015.
The Clarksons business does however remain highly robust,
evidenced by the significant growth in volumes within broking,
sales growth in research, an encouraging mandate pipeline within
the financial division and a strong balance sheet.
The Group will release its interim results for the six months
ending 30 June 2016 on Monday 15 August 2016.
Enquiries:
Clarkson PLC:
Andi Case, Chief Executive
Jeff Woyda, Finance Director 020 7334 0000
Hudson Sandler:
Kate Hoare 020 7796 4133
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTBUGDRCSGBGLX
(END) Dow Jones Newswires
July 04, 2016 02:00 ET (06:00 GMT)
Grafico Azioni Clarkson (LSE:CKN)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Clarkson (LSE:CKN)
Storico
Da Lug 2023 a Lug 2024