Clarkson beats full-year targets

10th Mar 2014 07:41

- Annual results ahead of forecasts- Particularly strong December trading- Final dividend increased to 37p from 33p Ship broker Clarkson said full-year pre-tax profit rose by more than a quarter, after particularly strong trading in December and underlined its confidence in future trading with an increased dividend payment.Underlying pre-tax profit rose 26% to £25.1m in the year ended December 31st while revenue rose 12% to £198.0m. Earnings per share surged 31% to 98.0p.Chief Executive Andi Case said: "Despite a turbulent market backdrop, Clarksons has been consistently profitable and cash generative. This has enabled us to continue to invest in the business during these challenging times, thus ensuring that we are positioned for growth as activity in our markets resumes."Our strong balance sheet has enabled us to continue to make selective acquisitions where appropriate to further strengthen our product breadth and we will continue to look to invest organically and acquisitively where appropriate. "We remain focused on shareholder returns and are delighted to have increased dividends each year for the past 11 years."Clarkson said its forward order book increased to $100m at December 31st.The board is recommending a final dividend of 37p up from 33p the previous year.CJ