Clarksons stayed in the black in 2016, awaiting the upturn

Underlying profit before taxation fell from £50.5m to £44.8m, which Clarksons attributed to the year’s “significantly lower freight rates and asset values”, but it said this was offset by “increased transaction volumes, increased market share and a strong US dollar.” 


Reported profit before taxation increased from £31.8m to £47.3m, on revenue marginally up from £301.8m to £306.1m, while the group’s “robust” balance sheet included a 64% increase in net funds to £74.8m versus £45.5m at end-2015.

“Clarksons remains cash generative and highly profitable, allowing us to deliver continued dividend growth for our shareholders despite the challenging shipping markets,” commented ceo Andi Case. “A number of indicators suggest that the shipping and offshore markets are beginning to recalibrate and we are well positioned to capitalise on the opportunities this presents in 2017 and beyond.”