Clarkson feeling optimistic

Clarkson feeling optimistic

In April, Clarkson (CKN) predicted half-year profits would miss expectations following a difficult first quarter. Fewer investment banking transactions in the asset broking division, along with a subdued period for sale and purchase broking, contributed to squeezed broking margins of 14.3 per cent (2017: 17.8 per cent). Deliveries of new dry cargo ships also fell 45 per cent compared with the first half last year, to the lowest level seen since 2008. This was made worse by a 9 per cent weakening in the US dollar, while US trade war fears put shareholders on edge.

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