Shipping

Shipping giant hit by geo-political uncertainty

shipping picture
Getty Images

Shares in shipping giant Clarkson are currently trading almost 9% lower after the FTSE-250 firm reported lower annual profits.

The firm blamed geo-political uncertainty due to the ongoing trade row between the US and China, the impact of Brexit on foreign exchange rates, and sanctions for the disappointment.

"These headwinds are having an impact, in particular within our financial segment, but, as the year progresses, we expect these to diminish," said chief executive Andi Case.

Pre-tax profit was £42.9m last year, down from £45.4m in 2017.