Clarkson sails to solid results

Shares in FTSE 250 shipping services firm Clarkson (LON:CKN) stormed upwards by 11.67% to 2,345p (as of 13:00 BST) after the firm reported a robust performance for the six months ended 30th June. Revenues for the half year were up by 7.5% and reported profits before tax also improved. While the company has performed well, management continue to not provide guidance due to the ongoing uncertainty.

CEO Andi Case commented: “Clarksons has delivered a positive first half during 2020 despite the unprecedented challenges that we have all faced and I would like to thank all my Clarksons colleagues for their hard work. The Company has produced strong cash flow, boosted by the excellent performances of our Broking and Research divisions, allowing the Board to pay the equivalent of the 2019 final dividend as well as an interim dividend for 2020. We have delivered 17 consecutive years of dividend growth“.