25th Sep 2025 16:24
(Alliance News) - Braemar PLC on Thursday said that the market fundamentals continued to be robust, while expecting to announce a lower revenue and profit for its first financial half.
The London-based provider of investment, chartering and risk management advice to shipping and energy markets said for the six months to August 31, it expects revenue of GBP63.8 million, down 16% from GBP76.0 million a year prior.
Underlying profit before acquisition-related expenditure is expected to have fallen 31% to GBP5.5 million from GBP8.0 million.
Braemar cited a financial impact of lower chartering rates, geopolitical volatility and a "much weaker" US dollar.
The expectations for the full year remain unchanged, with the performance expected to be second half weighted in line with most previous years.
It added that it is confident in its longer-term outlook and delivering on its financial year 2030 objectives.
Chief Executive Officer James Gundy said: "We have made good progress with our strategic priorities and continue to benefit from the resilience of our diversified business model. Our solid H1 performance was achieved despite a challenging trading environment, ongoing weaker chartering rates and competition for talent across the industry.
"Looking ahead, the market fundamentals continue to be robust, and the group remains in a strong position to take advantage of opportunities. Our forward order book is strong and improving, and charter rates, particularly in Tankers, have increased since the start of H2, underpinning our confidence in the full year outlook. We remain focused on delivering our long-term strategic plan."
Braemar expects to publish half-year results in mid-November.
Braemar shares fell 2.0% to 241.00 pence each on Thursday afternoon in London.
By Tom Budszus, Alliance News slot editor
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