8th Jan 2019 07:46
LONDON (Alliance News) - FTSE 250-listed shipping services company Clarkson PLC said Tuesday its 2018 results are expected to be in line with expectations.
In 2017, Clarkson reported a pretax profit of GBP45.4 million on revenue of GBP324.0 million.
In the first half of 2018 the firm's revenue was down 2.7% to GBP152.6 million from GBP156.8 million a year before. Pretax profit declined 18% to GBP18.0 million from GBP21.9 million last year.
At the time, Clarkson said its earnings were hurt by a challenging trading environment across the shipping and offshore capital markets. This included a quiet period in sale and purchase activity, reduced rates within the tanker market, and delays to financial transactions. This was further exacerbated by a fall in the value of the dollar during the period.
Clarkson's 2018 results are set to be announced March 11.
Shares in Clarkson closed flat Monday at 2,250.00 pence each.
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