Clarkson (LSE:CKN) said in an AGM trading statement that trading from 1 January to 6 May had been excellent and that the Group's start and current momentum "has enhanced the Board's confidence in its expectations for the year."
The company, the world's leading provider of integrated services and investment banking capabilities to the shipping and offshore markets, said the conflict in the Middle East had added complexity to global shipping, pushing up rates in some markets and affecting each area of the business differently.
The Broking division generated spot business, revenue and profits materially ahead of the same period last year as geo-political complexity, robust trading flows and extended voyage distances supported elevated chartering rates and asset prices.
The Financial division benefitted from positive capital-market sentiment and executed a number of mandates while building a strong pipeline, and the Research division increased both revenue and profitability as clients relied on its data and insights.
The Support division faced a more challenging environment owing to UK government policy on new oil and gas development and delays to offshore projects, and the Egyptian Agency business remains impacted by lower Suez Canal transits.
It said the acquisitions of the Link Group of Companies, Zuma Labs and Serpac International SAC enhance global capabilities, are accretive for shareholders and are trading in line with management's expectations.
