Clarkson sees FY earnings of at least £135m on freight volatility

(Sharecast News) - Shipping broker Clarkson said it expected full year earnings of at least £135m driven by Iran war-related volatility.

In a brief trading statement on Tuesday, the company, which in August said profits would be "materially ahead of expectations, said trading in August and September had been "very strong".

"The ongoing geopolitical complexity has created further volatility across commodity and freight markets, accordingly in some areas we have seen record freight rates and this has also then passed through to asset prices," the company said.

Clarkson said its broking division had delivered revenues "significantly ahead of previous expectations, while also adding to the forward order book".

"Alongside this, the financial division has executed a number of transactions, resulting in performance also being significantly up on expectations," it added.

Reporting by Frank Prenesti for Sharecast.com