Shipping services company Clarkson posted “record” results for 2021 on Monday following a particularly strong performance in the broking and financial segments.
In 12 months to the end of December, underlying pre-tax profit rose to a record £69.4m from £44.7m the year before, on revenue of £443.3m, up from £358.2m. Underlying earnings per share grew 56.2% to 165.6p and the dividend per share was lifted to 84p from £79p in 2020.
Clarkson said 2021 saw the start of a recovery in the shipping markets, with improved rates and increasing asset values in many verticals, resulting from a better supply/demand balance, low market order book and congestion arising from Covid-19 and supply chain challenges.
Chief executive Andi Case said: “Our record 2021 results are testament to the strategy which we have followed and communicated to stakeholders over recent years.
“It is with great pride that I reflect on the strength of our people in all sectors, roles and geographies, together comprising the best team in the world of shipping, offshore and renewables.”
The company expects the favourable supply/demand dynamics to continue in 2022. The supply of new ships continues to be affected by the structural reduction in shipbuilding capacity compared to 2008 while the economic recovery from the pandemic has strengthened the demand side, it said.
“We have a very strong forward order book and the outlook for freight rates remains positive.
“We remain conscious of the current geopolitical uncertainty, which could impact sanctions, exchange rates and commodity supply, alongside the global backdrop of inflationary pressures and rising interest rates. The team is therefore extremely focused on intelligence, analysis and relationships to ensure that we are well placed to support our clients as the market continues to evolve.”
