Clarkson PLC, a leading provider of integrated shipping services, has announced its preliminary results for the 12 months ended 31 December 2023. The company reported a record underlying profit before taxation of £109.2m, marking an 8.2% increase from the previous year. Additionally, the underlying earnings per share saw a 9.9% increase to 275.0p. Clarkson PLC also achieved a 21st consecutive year of dividend growth, with a full-year dividend of 102p. The forward order book for invoicing in 2024 stood at US$217m, indicating a strong balance sheet with free cash resources of £175.4m available for future investment.
Andi Case, Chief Executive Officer of Clarkson PLC, expressed pride in achieving another record year despite the disruptions in maritime markets. He attributed the success to the company's two decades of investment in strategy, outstanding team, market-leading services, technologies, and geographic reach. The CEO expressed confidence in meeting the growing needs of clients in an increasingly complex world and conveyed optimism for the company's future in the near, medium, and long term.
Clarkson PLC uses alternative performance measures (APMs) such as underlying profit before taxation and underlying earnings per share to assess its underlying performance. The company's APMs are considered to better reflect business performance and provide useful information. Clarkson PLC, founded in 1852, offers integrated services and investment banking capabilities to the shipping and offshore markets, facilitating global trade. The company employs over 2,000 people in over 60 different offices across its four divisions and is listed on the main market of the London Stock Exchange under the ticker CKN.
The Chair of Clarkson PLC reported another set of record results, attributing the performance to the company's consistent investment in building breadth and depth of services, creating a truly global company with local teams across key shipping geographies. The company has strategically invested in trends driving the industry, providing clients with sector-leading advice, market intelligence, and capabilities. The results for 2023 reflect the strength and diversity of Clarkson's business model, with revenue increasing by 5.9% to £639.4m, driven by strong growth in its Broking, Support, and Research divisions.