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Shipping services provider Clarksons said it continued to expect full-year performance to be impacted from the Covid-19 pandemic.
Due to the limited visibility of the duration and impact of COVID-19, the company said, however, it was yet 'too early' to quantify the potential effects on Clarksons' financial performance for the full year.
For the three months ended 31 March 2020, its broking business had performed 'well,' but as expected its financial division had a very quiet first quarter, with almost all activity in the capital markets having ground to a halt.
As a result, securities revenue, including that from advising on primary transactions, had been extremely limited. A 'small' restructuring, which was planned late last year, had been put in place to reduce ongoing overheads, the company said.
The support division had inevitably seen a downturn from its oil and gas related activities, but renewables, short sea broking and port agency remain active, and overall the business was profitable, it added.
At 8:33am: (LON:CKN) Clarkson PLC share price was -5p at 2390p