Clarkson’s (CKN) shares are down more than 20% over one year following what have effectively been two profit warnings within two months from the shipbroking leader. On 10 March, Clarkson flagged a slow start to 2025 and warned results would be second half weighted amid concerns over the global shipping market and an increasingly uncertain geopolitical outlook.

Then on 1 May, the shipping services specialist warned profits for 2025 could be down more than 25% year-on-year, pinning the blame for the earnings alert on global trade tensions and the weaker US dollar. Andi Case-steered Clarkson cautioned that at current exchange rates, underlying pre-tax profit for 2025 will be within the £85 million to £95 million range, implying a 25%-plus year-on-year plunge for this recent addition to Nick Train’s Finsbury Growth & Income Trust (FGT).

‘Uncertainty arising from the potential of a global trade war has escalated’ since the full-year results on 10 March, explained Clarkson, adding that US dollar spot negotiations in broking year-to-date were running 7% lower than anticipated as recently as March.

However the company, which has delivered 22 years of consecutive dividend growth, insisted it remains ‘very well placed’ to navigate macroeconomic uncertainty due to its market position, flexible cost base, forward order book and strong balance sheet. 

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