Clarkson Share Price Rallied 4.3% on Upbeat Full-Year ’23 Results

The Clarkson PLC (LON: CKN) share price rallied 4.3% after releasing its preliminary results for the 12 months ended 31 December 2023. The company achieved an unprecedented underlying profit before taxes, reaching £109.2 million, marking an 8.2% increase from the £100.9 million reported in the previous year.

The achievement underscores Clarkson PLC's ability to generate significant profit and maintain a financial growth trajectory. Moreover, the underlying earnings per share witnessed a notable rise of 9.9%, escalating to 275.0p from 250.3p in 2022. 

The enhancement in earnings per share reflects the company's robust profitability on a per-share basis, indicating a healthy financial position. A highlight of the company's financial stewardship is the declaration of a full-year dividend of 102p per share.

Impressively, this represents the 21st year in succession that Clarkson PLC has increased its dividend, evidencing a solid and consistent commitment to delivering shareholder value over two decades.

Looking forward to 2024, the company's forward order book remains solid, with invoicing orders valued at US$217 million, closely matching the US$216 million recorded in 2022. This consistency in the order book signals Clarkson PLC's sustained business momentum and capability to secure ongoing projects.

Clarkson PLC's robust balance sheet supports these achievements, highlighted by significant free cash resources totalling £175.4 million, up from £130.9 million in the preceding year. This financial strength positions the company favourably for future investments, enabling it to seize growth opportunities and navigate market challenges effectively.

In conclusion, Clarkson PLC's preliminary results for the year ended 31 December 2023 reflecting a year of strategic achievements, financial growth, and operational excellence. 

With a record-setting profit before taxes, increased earnings per share, continuous dividend growth, a stable forward order book, and substantial free cash resources, Clarkson PLC is well-equipped to continue its success into the future, driving value for its shareholders and stakeholders alike.

Andi Case, Clarkson’s Chief Executive Officer, commented: “2023 was a year of disruption in the maritime markets, and I am enormously proud we have achieved another record year. The business today reflects two decades' investment in our strategy, and we are confident in our outstanding team, our breadth of market-leading services, our technologies and our geographic reach to meet the growing needs of our clients in a world that is ever more complex. We are optimistic for Clarksons in the near, medium and long-term future.”

Clarkson share price. 

The Clarkson share price rallied 4.30% to trade at 3820.0p from Friday’s closing price of 3662.5p.