Clarkson Plc (CKN.L), a provider of integrated shipping services, on Thursday said it projects lower underlying profit before tax for fiscal 2025, impacted by the recent changes in US Government policy, mainly global tariffs uncertainity.
On the London Stock Exchange, Clarkson shares were losing around 12 percent to trade at 2,895.00 pence.
The Board now believes that at current exchange rates, underlying profit before tax will be within the range of 85 million pounds to 95 million pounds for fiscal 2025. In fiscal 2024, underlying profit before taxation was 115.3 million pounds.
According to the firm, whilst the Board believes that the effect of current macro uncertainty has the potential to be reversed once normality returns to the markets, it now expects that the recent changes in US Government policy will impact results for 2025.
Further, as seen consistently over the years, the results for 2025 are expected to be second half weighted.
Meanwhile, demand for Clarksons research products is currently high as clients seek trusted advice during the current market turbulence.
Clarkson said it continues to be very well placed to navigate periods of macroeconomic uncertainty after successfully navigated the challenging markets seen during the global financial crisis, the Covid-19 crisis and Brexit.
In its March 10 update, the company had highlighted the heightened uncertainty arising from political change, ongoing regional conflicts, increased trade tensions, tariffs, sanctions, inflation and changing monetary policy across global economies.
Since the update, the US Government introduced extensive global tariffs on April 2. On April 9, there was a 90-day pause on reciprocal tariffs above 10%, other than with China which were left at very elevated levels.
Further, on April 18, there was a further announcement relating to fees on Chinese vessels entering US ports.
As a consequence, uncertainty arising from the potential of a global trade war has escalated, the company noted.
At the Annual General Meeting, Laurence Hollingworth, Chair of Clarksons, will talk about the firm's trading for the period from January 1 to April 30.
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