Clarksons hails 'positive' start to year as broking division shines

11th May 2023 12:32

(Sharecast News) - Shipping services firm Clarksons backed its full-year outlook on Thursday as it hailed a "positive" start to the year, with the broking division still the main driver of revenue and profit.

In an update ahead of its annual meeting, the company said its broking arm performed strongly during the period from 1 January to 10 May, with activity at similar levels to last year, while rates in some markets have recently softened.

The performance of the financial division to date has been in line with last year, it said, "successfully executing a number of deals in more challenging capital markets".

Clarksons said the research segment is currently ahead of 2022, driven by increased demand for sector research, particularly in relation to the energy transition.

The support division is also performing ahead of last year, while the Sea/platform segment continues to make progress providing SaaS solutions to increased numbers of clients.

"Despite the currently weaker US dollar, the board's expectations for the year remain unchanged," it said. "The medium-term outlook for shipping is positive and we remain confident in the outlook for the business as we continue to drive value for all stakeholders."