Shipping and offshore markets services provider Clarkson (CKN) reinstated its dividend after reporting a rise in profit as strong performance in its broking division bolstered revenue in the first half of the year.

For the six months ended 30 June 2020, pre-tax profit increased to £20.9 million from £19.2 million on-year as revenue rose 10.7% to £180.4 million.

Revenue from the company's broking division increased to £147.1 million from £130.1 million.

MATCHING LAST YEAR

Clarkson said it decided to pay the equivalent of the deferred 2019 final dividend of 53p per share as an interim dividend and declared a further interim dividend for 2020 of 25p per share, unchanged on last year.

Looking ahead, Clarkson said it full-year guidance remained, though added that its broking division was expected to remain robust in the second half and anticipated a return to profitability in financial and improved profit from port services.

‘We remain confident in the fundamentals of the global shipping industry and that Clarkson will continue to benefit from its leading market position and full range of services,’ it added.

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Issue Date: 10 Aug 2020