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TAKE PROFITS Clarkson (CKN)

Close Clarkson (CKN) at 3,852p

Clarkson’s (CKN) share price dropped sharply last week after the shipping services company released a weak set of half-year results that fell short of investor expectations.

The company’s interim results revealed a 3% decrease in underlying profit before tax for the six months ended June 30, totalling £51.5 million. This decline in profitability came amidst a challenging and uncertain geopolitical and economic backdrop.

Despite the disappointing results, Clarkson’s CEO, Andi Case, attempted to reassure shareholders by maintaining the company’s annual forecast. He emphasised confidence in the second half of the year, citing a strong forward order book and a robust pipeline of new business as reasons for expecting a rebound in performance.

However, the market’s reaction suggests that investors aren’t buying it and we expect the large negative gap to lead to a short-term change in trend. With this in mind, we are going to take profits.

Profit (inc dividends) +14.5%

CKN Daily Candle Chart