Shipbroking and logistics group Clarkson (CKN) successfully navigated a choppy 2025 and said 2026 had started with ‘strong momentum’. Market sentiment is positive, the firm has a healthy order book and pricing has improved according to CEO Andi Case.
Steady as she goes
Clarkson provides shipbroking services, research, logistical support and corporate finance to clients in the shipping and offshore sectors. Unsurprisingly, 2025 proved a testing year due to heightened political and economic uncertainty which undermined growth.
The first half of the year was impacted by escalating rounds of tariffs and the increased use of sanctions against various countries. That stifled economic activity and investment across multiple sectors as companies struggled with visibility.
However, growth picked up in the second half as sentiment lifted and the flow of trade picked up. Revenue for the year was down around 4% to £631 million while underlying pre-tax profit was down around 21% to £90.6 million.
Despite the drop in profits, Clarkson raised its dividend payout from 109p to 112p. While the yield is only 2.5%, the latest increase represents 23 consecutive years of dividend growth.
Clarkson did well to navigate a difficult market in 2025, and despite some wild swings the shares ended almost flat. This year they are up 15%, outpacing the FTSE 250, with today’s positive reaction confirming that momentum.
The firm plays a crucial role in global trade and last year was a proper test of its resilience. Pleasingly, profits held up reasonably well, the firm generated plenty of cash and it even raised the dividend.
We did a quick word search of the announcement for any mention of AI and found just one. The firm says AI is ‘being leveraged in a balanced way, with client-facing features planned for 2026’.
While research is part of the business, and in theory could be at risk from AI, it generates less than 5% of revenue. Broking, which generates 75% of revenue, is actually likely to benefit from advances in AI, especially if it improves the customer experience.
Read the press release here: https://www.clarksons.com/home/investors/
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