Clarkson PLC revenue jumps 20.4% in 1HFY23 amid shortage of global shipping fleet

3 min read | August 15, 2023 10:51 AM AEST | By Team Kalkine

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Clarkson PLC revenue jumps 20.4% in 1HFY23 amid shortage of global shipping fleet — Image source: Atstock Productions, Shutterstock

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Highlights

Clarkson PLC (LSE:CKN) empowers its clients by enabling smarter, cleaner global trade for them through its top-notch market-leading technology and intelligence.

During H1 FY23, Clarkson posted over4% YoY growth in total revenue.

The company registered over4% YoY growth in its interim dividend for H1 FY23.

FTSE 250 index listed Clarkson PLC (LSE:CKN) is a provider of integrated services to the shipping and offshore markets. It empowers its clients by enabling smarter, cleaner global trade for them through its top-notch market-leading technology and intelligence.

During the first six months of the fiscal year 2023, Clarkson posted revenue of £321.10 million, marking around 20.4% year-on-year growth. Its reported basic earnings per share increased by 32.5% YoY during the reporting period. CKN has credited its Broking division to be the main driver of revenue and profit growth during H1 FY23.

Additionally, the company registered over 3.4% YoY growth in its interim dividend for H1 FY23. It has announced to pay an interim dividend of 30 pence per share on 15 September 2023, with the ex-dividend date of 31 August 2023. Notably, Clarkson has marked 20 years of consecutive dividend growth.

During H1 FY23, Clarkson secured a record level of forward order book, maintaining the balance between supply and demand. Going forth, it will continue to invest in the people, technology, and businesses across all segments, says the company. Also, it’s expecting the medium-term outlook for shipping industry to remain positive and business prospect to be bright following the shortage of structural supply in the global shipping fleet.

Top 10 shareholders

The top ten shareholders of the company constitute around 30.71% of the total shareholdings in CKN. While Fidelity Management & Research Company LLC owns the maximum number of shares with over 4.8% shareholding, RS Platou ASA holds approximately 4.85% shareholding.

Stock Price Performance
The stock price has fallen by about 7.71% in the last one month, while it has declined by around 13.79% over the last six months. The stock’s 52-week low and 52-week high price are at GBX 2,440.00 and GBX 3,735.00, respectively.

Please note markets are trading in a highly volatile zone currently due to certain macro-economic and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 11 August 2023. The reference data in this report has been partly sourced from EODHD/Others.

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