Integrated shipping services firm Clarskson Plc saw its profit drop in the first half of 2018 after a challenging trading environment across the shipping and offshore capital markets.
The UK-based firm reported a pre-tax profit of £18 million in H1 2018, down from £21.9 million in H1 2017. Revenue also fell to £152.6 million from £156.8 million in 2017.
“The first quarter of 2018 presented a challenging trading environment across the shipping and offshore capital markets, including a quiet period in sale and purchase, and accentuated by a fall in the value of the US dollar. Conditions in some markets did, however, improve in the second quarter when the breadth and diversity of our business again provided opportunity irrespective of volatility in the market,” commented CEO Andi Case.
“We should benefit in the second half of the year from these recent improvements and remain confident in the mid to long-term potential for the Group. Our investment across the business continues apace, as we drive innovation and remain focused on furthering Clarksons’ position at the forefront of the sector,” Case added.
Founded in 1852, Clarksons is one of the world’s leading providers of integrated services and investment banking capabilities to the shipping andoffshore markets.