Shipping services group Clarkson Plc. (CKN.L) Wednesday reported increased profit for the first half of the year, despite a marginal drop in revenues.
Profit before taxation rose to 14.7 million pounds from 13.5 million pounds. Adjusted pre-tax profit was 11.0 million pounds, while it totaled 13.5 million pounds last year.
Profit attributable to equityholders of the parent was 10.0 million pounds compared to 9.8 million pounds last year. Earnings per share rose to 53.5 pence from 52.3 pence.
Revenue slid to 88.0 million pounds from 88.6 million pounds.
The company's board has declared an interim dividend of 18 pence per share, unchanged from last year.
Commenting on current trading, the firm said that the global economic slowdown and political uncertainty overshadow its industry. Rates remain under pressure and the supply/demand imbalance continues to be a major factor as more ships are delivered to market.
''Overall activity in the capital markets remains low and availability of debt for clients is increasingly challenging,'' it added.
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by RTT Staff Writer
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