Integrated shipping services giant Clarkson has delivered its 19th consecutive year of growth, registering a 55.3 per cent surge in profit.
In the year ended 31 December, the group reported an underlying profit before taxation of £69.4m, with earnings per share going up 56.2 per cent to 165.6p.
“Our record 2021 results are testament to the strategy which we have followed and communicated to stakeholders over recent years,” commented the firm’s boss Andi Case.
“We are positive about the future of the shipping industry. The outlook for Clarkson remains strong and we believe the business will continue to benefit from its market-leading position.”
To reflect such results, the FTSE250 company has decided to increase its dividend from 54p per share to 57p which – combined with the 27p dividend for 2021 – will amount to a total of 84p.
The company, which has managed to come out relatively unscathed from two challenging years, expects smooth sailing for 2022.
“The supply of new ships continues to be affected by the structural reduction in shipbuilding capacity compared to 2008 whilst the economic recovery from the Covid-19-induced pandemic has strengthened the demand side,” it said in a statement.
“We remain conscious of the current geopolitical uncertainty, which could impact sanctions, exchange rates and commodity supply, alongside the global backdrop of inflationary pressures and rising interest rates.
“We are positive about the future of the business, and believe we are in a strong position to continue to deliver for our clients across all verticals and thus increase shareholder value over the long term.”