LONDON shipbroker Clarkson posted a 35 per cent year-on-year increase in pretax profit to GBP3.8 million (US$5.6 million) in 2014, drawn on revenues of GBP37.9 million, which increased 20 per cent.
"Shipping and offshore is a multi-cyclical business and once again we face extremely challenging conditions in some markets," said Clarkson CEO Andi Case.
"We continue to see a flight to quality and believe that our extended tool box underpinned by our strong balance sheet ensures we are best placed for long-term growth," he said.
The group the group concluded the acquisition of Norwegian shipbroker RS Platou for GBP81.1 million.
"As we combine the two leading businesses of Clarksons and Platou we create a fully integrated offer across shipping and offshore, broking and banking," said Mr Case.
Said Clarkson chairman James Hughes-Hallett: "We have a solid forward orderbook and, despite heightened challenges in some of our markets, we are confident that our proven strategy and best in class service will continue to provide enhanced returns."
Clarksons' broking business posted $302 million in revenue against $251 million in 2013. The company's forward orderbook for 2015 is forecast to reach $110 million.
With regard to the market outlook, looking ahead, the tanker sector seems to be on the good track. According to Clarksons, seaborne oil products trade is expected to continue its robust growth.
This will be driven by the commissioning of more new refining capacity in the Middle East and the likely closure of further capacity in Europe and Australia.
Lower oil products prices may also stimulate additional demand and higher trading volumes in the tanker sector, Clarksons said.
MARKETS
19 March 2015 - 10:14
Clarkson profit up 35pc to US$5.6 million as revenues rise 20pc
LONDON shipbroker Clarkson posted a 35 per cent year-on-year increase in pretax profit to GBP3.8 million (US$5.6 million) in 2014, drawn on revenues of GBP37.9 million, which increased 20 per cent.
MARKETS
19 March 2015 - 10:14
Clarkson profit up 35pc to US$5.6 million as revenues rise 20pc
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