3rd Nov 2015 13:50
LONDON (Alliance News) - Shipping services company Clarkson PLC on Tuesday said its adjusted pretax profit will rise in the year but show only a small improved on the first half, despite the group having previously guided to its results being weighted to the latter six months of 2015.
The FTSE 250-listed company said it has seen challenges in the second half of the year, with the dry bulk market still "severely depressed" and the low oil price still putting offshore operators under significant pressure, which has resulted in contract delays and cancellations.
While its tankers, specialised products and gas businesses have performed well, activity levels in the maritime industry have been hit hard by the downturn in the second half, which has hit its financial division.
Though it remains confident on its outlook, the group expects its adjusted operating profit for the full year to be around GBP50.0 million. This would be up on the GBP33.8 million it posted a year earlier but only a minor acceleration in the second half from the GBP23.6 million it made in the first half of 2015, despite the group having guided to its results being weighted to the second half.
Shares in Clarkson fell 9.2% on the news to 2,185.3896 pence, the worst performer in the FTSE 250.
By Sam Unsted; [email protected]; @SamUAtAlliance
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