Clarksons, the world's largest shipping services provider, forecast annual underlying pre-tax profit ahead of market view on Tuesday, boosted by elevated freight rates amid geopolitical tensions.
The company said it expected underlying profit before tax for the full year ending December 31, 2026, to be not less than £135 million ($178.32 million), above company-compiled average analyst estimates of £115.2 million and 49 per cent higher than a year earlier.
Higher freight rates triggered by the Middle East conflict and the Strait of Hormuz closure lifted Clarksons, which posted record first-half profit in August.
The company reported strong trading in August and September, and said it had seen "record freight rates" in some areas which had passed through to asset prices.
Clarksons said its broking division delivered revenues significantly ahead of previous expectations and added to the forward order book.
The financial unit's performance also exceeded expectations, the shipping firm said.
(Reporting by Simone Lobo in Bengaluru; Editing by Subhranshu Sahu)