Clarkson, the shipping services group, has raised its full-year profit expectations after a surge in freight markets pushed trading well ahead of forecasts.
It now expects underlying profit before tax of at least £135 million for the year to 31 December 2026.
The company said trading in August and September was very strong, with geopolitical complexity creating volatility across commodity and freight markets.
In some areas, freight rates hit record levels, which in turn fed through to asset prices.
The broking division, which arranges the chartering and sale of ships, delivered revenues significantly ahead of previous expectations.
It also added to its forward order book, which gives some visibility on future income.
The financial division executed a number of transactions, leaving its performance significantly above expectations too.
However, Clarkson cautioned that the trading environment remains very volatile.
"We believe the group's strategy of long-standing investment in the breadth and quality of its market-leading platform in terms of teams, tools for trade and technology this year and over the past two decades positions it well to capitalise on market conditions when and where they arise," investors were told.
The update covers trading to the end of September, with the full-year outcome still to come.
