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Annual Results

Clarksons divi up for 14th year in a row

13 March 2017 07:38

Integrated shipping services provider Clarksons reports a strong performance for the year to the end of December despite challenging market.

Underlying profit before taxation fell from £50.5m to £44.8m, reflecting significantly lower freight rates and asset values during the year, offset by increased transaction volumes, increased market share and a strong US dollar.

Revenues rose to £306.1m from £301.8m and reported profit before taxation increased from £31.8m to £47.3m.

The dividend is up by 5% to 65p marking 14 consecutive years of dividend increases.

Chief executive Andi Case said: "Clarksons remains cash generative and highly profitable, allowing us to deliver continued dividend growth for our shareholders despite the challenging shipping markets.

"A number of indicators suggest that the shipping and offshore markets are beginning to recalibrate and we are well positioned to capitalise on the opportunities this presents in 2017 and beyond."

Story provided by StockMarketWire.com

Related Company: CKN

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