14th Jan 2016 08:36
LONDON (Alliance News) - Braemar Shipping Services PLC on Thursday said it remains on track to meet market expectations for the year, with all divisions trading in line.
The group said its shipbroking unit performed well in the third quarter of its financial year to the end of February, despite operating in a tough market. The group has seen good activity in tanker markets thanks to higher oil production, which has helped offset weakness in dry cargo and offshore activity.
The group's technical services arm has performed in line, with its liquefied natural gas engineering arm continuing to grow, while its logistics unit is focused on long-term goals, particularly on opportunities in infrastructure projects and expanding its geographic presence.
Overall, the group said it remains confident it will hit market expectations for the year.
Shares in Braemar were down 3.4% to 425.00 pence early on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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