Shares of Clarkson PLC (LON: CKN) soared 15% on Monday after the firm reported a “robust first-half performance”. Clarkson stock price is now trading above GBX2400 to log a new 5-week high. 

Clarkson, a major shipping company from the UK, posted a first-half profit of £21.1 million, slightly higher than £20.1 million from a year ago. The underlying earnings per share came in at 51.4p, compared with 48.5p last year. 

The shipping firm saw its revenue surge to £180.4 million, up from £167.8 in 2019. Still, Clarkson withdrew its full-year guidance due to the uncertainty stemming from the pandemic. 

On the back of the strong H1 performance, the company will pay the equivalent of the deferred 2019 final dividend as a bonus in the amount of 53p per share. Moreover, Clarkson declared an interim dividend for this year at 25p per share.

Earlier this year, Clarkson’s rival APM Maersk projected a problematic year for global shipping business amid the pandemic. 

Shares of Clarkson surged around 15% following the release of trading performance for the first half of the year. Clarkson stock price briefly traded above GBX2400 for the first time in 5 weeks. This way, the series of the lower highs has been broken.

The buyers are now fighting to force a close above the 100-DMA at GBX2286. As this is likely to be the case today, the bulls will then use this indicator as a base for a bigger push higher in the coming days and weeks. The next target to the upside is 200-DMA at GBX2540.

Clarkson share price erupted higher on Monday after the shipping firm posted higher profits and revenue compared to a year ago. Shares are now trading at a 5-week high as the bulls prepare for a move above GBX2500.

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