Clarksons has lowered its annual profit forecast, citing the impact of US tariffs.
The London-listed shipbroker published a trading update ahead of its annual general meeting.
Underlying pre-tax profit is expected to fall in the range of £85m to £95m, down 18 per cent from prior full-year guidance.
Clarksons cited “uncertainty” arising from the potential of a global trade war, with tariffs of over 100 per cent going both ways between China and the US.
“Whilst the Board believes that the effect of current macro uncertainty has the potential to be reversed once normality returns to the markets, it now expects that the recent changes in US government policy will impact results for 2025,” it said in a statement.
Clarksons also said it may see a further £10m hit to profits should exchange rates remain at current levels through 2025, given the value of the US dollar has declined against most global currencies.
“The Board remains committed to the strategy that has served Clarksons well and the group continues to help its clients navigate these ongoing complexities, by providing the expertise, data and insights to enable them to make the right decisions for their organisations.
“Demand for Clarksons research products is currently high as clients seek trusted advice during the current market turbulence.”