Clarkson Preliminary 2022 Earnings Rise

Clarkson Plc (CKN.L), a British provider of shipping services, on Monday recorded a rise in preliminary earnings for 2022, reflecting an increase in revenue, particularly driven by the performance of Broking division.

For the 12-month period to December 31, 2022, the London-headquartered firm registered a pre-tax income of 100.1 million pounds, higher than 69.1 million pounds of 2021.

Broking generated profit before tax of 117.6 million pounds, compared with last year’s 73.6 million pounds, helped by strong performances in dry bulk, specialized and offshore, together with a much-improved performance in tanker markets.

Underlying profit before taxation posted at 100.9 million pounds, versus 69.4 million pounds of previous year.

Underlying basic earnings per share were at 250.3 pence, higher than 165.6 pence per share of previous year.

Post-tax earnings were at 79.6 million pounds or 246.1 pence per share as against previous year’s 54.4 million pounds or 163.2 pence per share.

Operating profit stood at 100 million pounds, versus 70.8 million pounds a year ago.

Trading income climbed to 582 million pounds from 426.8 million pounds of previous year.

Revenue was at 603.8 million pounds, higher than 443.3 million pounds of 2021.

For 2022, Clarkson will pay a final dividend of 64 pence per share, higher than last year’s 57 pence per share. The dividend will be paid on May 26 to shareholders of register on May 12.

Looking ahead, the company said: “…We start 2023 confident in the outlook for Clarksons. Whilst there are considerable uncertainties in the geo-political landscape, we are confident that supply-side constraints brought about by years of underinvestment and the pressure on ship owners and charterers to decarbonise, will provide significant opportunities for Clarksons long into the future.”

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