(Alliance News) - Clarkson PLC on Monday said strong trading in the second half of 2021 means annual results will be ahead of current market expectations.
The London-based shipping services provider was founded in 1852.
Underlying pretax profit is now expected to be "not less than" GBP65 million, which would be up 45% from GBP44.7 million by the same measure in 2020. Investment bank Liberum said the previous median market consensus was GBP56.1 million.
"Performance has been strong across all divisions, with the Financial and Broking divisions performing particularly well," Clarkson said.
The upbeat early morning announcement sent Clarkson shares to near the top of the FTSE 250 index on Monday, rising 4.9% to 3,865.00 pence. In the year so far, the stock is up 43%.
Liberum raised its price target on Clarkson shares to 4,470p from 3,850p and repeated its Buy recommendation.
By Tom Waite; thomaslwaite@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Clarkson (CKN)