Clarkson shifting into top gear

30th Jun 2010 12:45

Trading at shipping services company Clarkson is becoming more buoyant while changes in the sterling/dollar exchange rate means the company's interim results should be ahead of expectations.The steady improvement in the company's trading environment, reported at the time of its interim management statement on 12 May 2010, has continued. The company said that with shipping markets recovering at differing rates it has been pleased to see further positive signs across a number of its markets.Broker Panmure Gordon responded to the brief but upbeat trading statement by increasing its 2010 earnings forecasts.It now expects earnings per share (EPS) for the current year to hit 103.9p, up from its previous estimate of 94.4p."Our forecasts for the following two years have also increased to reflect the underlying market improvements, albeit to a lesser extent. Our EPS for 2011E has risen from 98.8p to 102.3p and for 2012E from 101.6p to 105.1p," the broker said. It has left is dividend forecasts unchanged.