Clarkson (LSE:CKN) told investors that trading in August and September has been "very strong", prompting the board to raise its guidance for underlying pre-tax profit for the year to 31 December to not less than £135m.
The shipping services firm said geopolitical complexity has driven further volatility across commodity and freight markets, pushing freight rates to records in some areas and feeding through into higher asset prices.
Its broking division delivered revenues significantly ahead of previous expectations while also adding to its forward order book, and the financial division executed a number of transactions that left its performance significantly up on expectations too.
The upgrade follows an AGM trading statement in May, when Clarkson described trading from January to early May as "excellent" and said broking spot business, revenue and profits were running materially ahead of the prior year on elevated chartering rates and longer voyage distances.
"We believe the group's strategy of long-standing investment in the breadth and quality of its market-leading platform in terms of teams, tools for trade and technology this year and over the past two decades positions it well to capitalise on market conditions when and where they arise," the company said.