Clarkson (CKN) Trading update summary

Trading performance

• August and September trading was very strong amid geopolitical complexity and heightened commodity and freight market volatility; some areas saw record freight rates, which flowed through to asset prices.

• Broking revenues were significantly ahead of previous expectations, with further additions to the forward order book.

• Financial executed several transactions, lifting performance significantly above expectations.

Full-year outlook

• Despite continued market volatility, underlying profit before tax for FY 2026 is expected to be not less than £135m.

Strategic positioning

• Long-standing investment in the breadth and quality of teams, trading tools and technology is intended to support capitalising on market opportunities as they arise.