Help Desk -
9717405332, 9599714297, 9810335381
Email
Password

Shipbroker Clarkson issues net profit warning amid tough market

Logistic News - Published on Wed, 25 Apr 2018

Image Source: wikimedia
Clarkson PLC has provideed the following trading update: During the first quarter, Clarksons faced certain headwinds. The challenging environment in shipping and offshore capital markets has led to transactions being pushed back within the financial segment and has compounded a quiet period in sale and purchase activity for the group across shipping and offshore. Further, the group has suffered from lower freight rates within the tanker market and a fall in the value of the US Dollar, the predominant trading currency of the group’s banking and broking businesses.

Together these have resulted in financial performance that is below that previously expected by the Board. Consequently, whilst it is still too early to determine the exact impact, profits for both the first half and the full year are now anticipated to be materially below those of last year.

Source :

Tags: |

Posted By : Nanda Koijam on Wed, 25 Apr 2018
Related News from Logistic segment