Clarkson sails ahead of expectations with record profits, shares jump

London-based shipping services giant Clarkson (LSE: CKN) predicts record profits for 2023, sending its shares soaring over 7% on Friday.

The FTSE 250 firm said annual underlying pre-tax profits will surge to at least £108 million, well above previous expectations and last year’s £100.9 million result. Clarkson releases full-year results in early March.

Boosted by strong fourth-quarter trading, particularly in its core Broking division, Clarkson continues to ride high on the waves of robust shipping markets. Its shares have climbed 11% over the past 12 months.

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With a network spanning 22 countries, Clarkson provides integrated shipping services from shipbroking to financial services. The historic British company can trace its roots in shipping back over 150 years.

The upbeat profit guidance demonstrates Clarkson’s commanding position across shipping value chains and its ability to deliver value for shareholders even in turbulent markets.