Clarkson PLC on Thursday said it had a positive start to 2023, with the green transition and supply-side constraints driving activity in its markets.

Clarkson is a London-based provider of shipbroking and investment banking services to the shipping and offshore markets. It provided an update on the year to date at its annual general meeting on Thursday, saying its expectations for 2022 remain unchanged.

Clarkson said this is despite a weaker dollar, in which most shipping services are billed.

‘The medium-term outlook for shipping is positive, and we remain confident in the outlook for the business,’ Chair Laurence Hollingworth told the AGM.

Clarkson said the Broking division continues to be its main driving force behind revenue and profit. The activity of the division remains at a similar level to last year.

The company said the Financial division also was performing in line with 2022, despite more difficult capital markets. It said both the Research and Support divisions were trading ahead of last year.

Clarkson share were down 3.9% at 2,940.00 pence on Thursday afternoon.

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