14th Mar 2018 13:39
The marine and energy service provider expects underlying operating profit for the full-year to the end of February in the range of
The group said it net debt on February 28 was
The newly acquired Financial division delivered strong financial performance, Braemar Shipping said. Shipbroking division has traded in line with market expectation despite a weaker tanker sector and Technical division has returned to profitability during the second half of the year.
Although, the Braemar Shipping's smallest Logistics division was "adversely" affected by a post year end settlement of
Braemar said it believes that the outlook for the next financial year is favourable and the group will benefit from the full year impact of Braemar-NAVES and Braemar Atlantic as well as the continuing recovery of the Technical division.
In recent years, the Technical division suffered from an industry wide reduction in activity, however, after completion of the company's business restructuring programme, it was expected to yield around
The company is set to release its annual results on May 15.
Braemar Shipping shares were up 6.1% at
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