Clarkson PLC announced preliminary results for the 12 months ended 31 December 2024.
Summary
· Another record underlying profit before taxation* of £115.3m (2023: £109.2m), an increase of 6%
· Underlying basic earnings per share* increased 4% to 286.9p (2023: 275.0p)
· Full year dividend of 109p, an increase of 7% on 2023, giving rise to a 22nd consecutive year of dividend growth
· Forward order book as at 31 December 2024, for invoicing in 2025 was US$231m (31 December 2023: US$217m)
· Strong balance sheet with free cash resources* of £216.3m (2023: £175.4m)
Andi Case, Chief Executive Officer, commented:
“2024 was another year of disruption, complexity and opportunity for global shipping markets and against this backdrop I am immensely proud of the hard work and dedication of all my colleagues in producing another record result.”
“The geo-political outlook remains uncertain as we enter 2025, with ongoing regional conflicts and trade tensions creating uncertainty for markets reflected by freight rates and asset values currently lower than 2024. The resolution or continuation of these events during the year will provide potential headwinds and tailwinds to the Group’s performance as we support our clients through this complexity.”
“Irrespective of near-term headwinds, we remain committed to investing in the business, across people, intelligence and technology to ensure we maintain our market-leading position across all sectors.”
Alternative performance measures (‘APMs’)
Clarksons uses APMs as key financial indicators to assess the underlying performance of the Group. Management considers the APMs used by the Group to better reflect business performance and provide useful information. Our APMs include underlying profit before taxation and underlying earnings per share. An explanation and reconciliation of the term ‘underlying’ and related calculations are included within the ‘Other information’ section at the end of this announcement. All APMs used within this announcement are denoted by an asterisk.
Chair’s review
As I reflect on 2024, I am extremely proud of the way Clarksons has successfully navigated a landscape marked by significant political, economic and environmental change.
Our expert and market-leading global teams have supported our clients through these turbulent times, offering strategic insights to help overcome challenges and capitalise on emerging opportunities.
The geo-political landscape has been particularly fast-moving, with ongoing global conflicts underscoring the critical importance of strong governance, deep knowledge and high-quality data as we advise our clients on vital decision-making against a backdrop of increasingly complex international sanctions.
Results
This year marks the third consecutive year that our business has achieved an underlying profit before tax* of over £100m. Revenue increased by 3.4% to £661.4m, driven by growth across the business. This outstanding achievement underscores the importance, and success, of our strategy to focus on global expansion, recognising opportunities, entering new markets, hiring the best individuals and teams, and building a business with the scale and leading market position to deliver sustained growth.
Dividend
We are delighted that, for the 22nd consecutive year, and in line with our progressive dividend policy, the Board is recommending an increased final dividend of 77p per share, bringing the total dividend for 2024 to 109p per share, an increase of 7% compared to 2023.