Clarkson PLC (LSE:CKN) reported strong growth in revenue and profit at the half-year stage but cautioned it has started to see softening of rates in some sectors.
The London-based shipping services provider posted revenue of £321.1 million in the six months to 30 June 2023, up 20% from £266.7 million a year ago, while statutory pre-tax profit jumped 24% to £52.2 million from £42.0 million.
Laurence Hollingworth, chair, said it had delivered “another outstanding performance in terms of revenue and profits”.
Clarkson said its broking team remains the biggest driver with profit rising to £58.2 million from £47.0 million, reflecting a margin of 22.6%, up from 22.3%.
EPS climbed to 130.5p from 98.5p while the dividend was increased to 30p from 29p, the 21st consecutive increase in the payout.
Despite highlighting some softening in rates, the firm reiterated full-year guidance with continued confidence in the medium-term outlook.