Less Ads, More Data, More Tools Register for FREE

Pin to quick picksClarkson Regulatory News (CKN)

Share Price Information for Clarkson (CKN)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 4,140.00
Bid: 4,150.00
Ask: 4,160.00
Change: -20.00 (-0.48%)
Spread: 10.00 (0.241%)
Open: 4,135.00
High: 4,155.00
Low: 4,115.00
Prev. Close: 4,160.00
CKN Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

AGM and Interim Management Statement

13 May 2009 11:00

RNS Number : 1667S
Clarkson PLC
13 May 2009
 



13 May 2009

CLARKSON PLC

("Clarksons")

AGM and Interim Management Statement

Clarksonsthe world's leading shipping services group, today announces its Interim Management Statement published in accordance with the UK Listing Authority's Disclosure and Transparency Rulesfor the period from 1 January 2009 to 12 May 2009. 

At the Annual General Meeting to be held in London today, Bob Benton, Chairman of Clarksons, will make the following statement:

Trading

Trading conditions since our 2008 Preliminary results, announced on 16 March, have continued to remain challenging. Most of the world's largest economies are in recession and the resultant decline in international trade, combined with a lack of available finance, has affected the Group's revenues through reduced asset values and freight rates.  Notwithstanding this backdrop, the Group is trading in line with management's expectations for the current year. 

Broking

Spot revenues in the broking division continue to be affected by significantly reduced freight rates, although this has been partially offset by the strength of the US$ against Sterling and the forward order book brought forward at the start of 2009. The division has maintained volumes across most markets and increased them in some, albeit at lower rates. Whilst Sale and Purchase has suffered in volume terms, we are encouraged that activity is now beginning to return to this market. Against this backdrop, we continue to benefit from a flight to quality, as our global network is proving invaluable to clients. 

Financial 

Revenues from our futures broking business have also been affected by the fall in freight ratesLevels of activity in dry forward freight agreements have, however, increased modestlyreflecting periods of volatility and increasing market share. The Clarkson Shipping Hedge Fund has returned to positive performance for the year to date and we continue to actively market this product to new investors.

Clarkson Investment Services, our new investment banking operation, is making good progress. Although this new business is being developed in challenging market conditions, we are very encouraged by our clients' reception to this new operation. 

Support

Port & Agency and Technical Services activities have shown modest revenue growth during the year to date and continue to trade in line with our expectations.

Research

Research continues to be essential to the added value that Clarkson brings to its client base and the Group's ability to innovate.  As global economic uncertainty continues and as shipping markets experience more rapidly changing demand and supply conditionsinformation is even more vital to our clients. As a result, we have experienced increased demand for these services in 2009 to date. 

Outlook

Although it continues to be difficult to anticipate how the broad number of markets in which we operate will react to developments in global economies and financial markets over the coming monthsthere is little doubt that Clarkson is benefiting from the breadth of its global services and network, its forward order book, and the relative strength of the US$. We have maintained a tight discipline on costs and continue to benefit from the Group's strongly cash generative nature and solid financial position.

Enquiries:

Clarkson PLC 020 7334 0000
Andi Case, Chief Executive
Jeff Woyda, Finance Director
 
Hudson Sandler 020 7796 4133Jessica Rouleau/Kate Hough
This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCGUUPAAUPBUBW
Date   Source Headline
7th Jan 20167:00 amRNSPre-Close Trading Update
31st Dec 20159:47 amRNSTotal Voting Rights
29th Dec 201510:50 amRNSBlocklisting Six Monthly Return
30th Nov 20154:52 pmRNSTotal Voting Rights
3rd Nov 20151:42 pmRNSTrading Update
30th Oct 20153:32 pmRNSTotal Voting Rights
30th Sep 20153:44 pmRNSDirector/PDMR Shareholding
30th Sep 201511:34 amRNSTotal Voting Rights
9th Sep 20158:55 amRNSDirector/PDMR Shareholding
3rd Sep 20154:40 pmRNSHolding(s) in Company
2nd Sep 20159:48 amRNSClarkson PLC Interim Report 2015
28th Aug 201511:11 amRNSTotal Voting Rights
17th Aug 20157:00 amRNSInterim Results
31st Jul 20154:37 pmRNSTotal Voting Rights
15th Jul 20154:10 pmRNSChange of Registered Office
24th Jun 20153:31 pmRNSAdditional Listing
18th Jun 201510:22 amRNSAppointment of Joint Corporate Broker
12th Jun 20157:00 amRNSBoard Change
28th May 20159:48 amRNSHolding(s) in Company
13th May 20155:14 pmRNSDirector/PDMR Shareholding
8th May 20155:35 pmRNSResult of AGM
8th May 201512:05 pmRNSAGM Statement
5th May 20154:42 pmRNSDirector/PDMR Shareholding
21st Apr 20155:00 pmRNSDirector/PDMR Shareholding
2nd Apr 201512:04 pmRNSNotice of AGM 2015 and Annual Report 2014
9th Mar 20157:00 amRNSPreliminary Results
5th Feb 20153:22 pmRNSHolding(s) in Company
5th Feb 20153:14 pmRNSHolding(s) in Company
5th Feb 20153:13 pmRNSHolding(s) in Company
4th Feb 20159:21 amRNSHolding(s) in Company
2nd Feb 20157:00 amRNSCompletion of Acquisition
28th Jan 20157:00 amRNSUPDATE RE ACQUISITION
6th Jan 20157:00 amRNSPre-Close Trading Update
5th Jan 20154:15 pmRNSDirectorate Change
5th Jan 20152:57 pmRNSTotal Voting Rights
23rd Dec 201411:09 amRNSResult of General Meeting
17th Dec 20143:14 pmRNSPublication of Prospectus
16th Dec 201411:57 amRNSAdjournment of General Meeting
15th Dec 201411:09 amRNSPublication of Supplementary Circular
12th Dec 20147:00 amRNSUPDATE RE ACQUISITION
5th Dec 201410:28 amRNSHolding(s) in Company
3rd Dec 20144:00 pmRNSHolding(s) in Company
27th Nov 20145:50 pmRNSPublication of Circular
27th Nov 201410:50 amRNSResult of Placing
27th Nov 20147:02 amRNSProposed Acquisition - Update
27th Nov 20147:01 amRNSPlacing Announcement
25th Nov 20147:00 amRNSProposed Acquisition
14th Nov 20147:36 amRNSPossible Aquisition
29th Aug 20142:24 pmRNSHalf Yearly Report
22nd Aug 20143:34 pmRNSHolding(s) in Company

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.