19th Sep 2024 12:10
(Alliance News) - Braemar PLC on Thursday said it traded well and in line with expectations.
The London-based shipbroker and shipping investment advisor said for the six months ended August 31, it expects to report a revenue of not less than GBP75.0 million, similar to GBP74.9 million a year ago.
Underlying operating profit is expected to be slightly ahead of prior half-year's GBP7.6 million.
The cash position edged up 6.5% to GBP3.3 million at the end of August from GBP3.1 million a year ago.
Braemar said the company-compiled consensus was for revenue of GBP153.2 million for the financial year 2025 ending February 28, up 0.3% from GBP152.8 million for financial 2024 it had reported in May.
Further, it cited a consensus of GBP18.1 million for underlying operating profit for financial 2025, up 9.7% from GBP16.5 million in financial 2024.
The company expects to release its results for the six months to August 31 to be published by mid November.
Braemar shares rose 1.5% to 297.00 pence each on late Thursday morning in London.
By Tom Budszus, Alliance News slot editor
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