22nd Sep 2021 21:11
Braemar Shipping Services PLC - London-based shipbroker - "Encouraged" by trading in six months to August 31, with performance "well ahead" of the same period last year and plans interim dividend payment.
Shipbroking unit had a "strong" first half, particularly pointing to Dry Cargo and Securities desks.
"The strong trading in Sale and Purchase, Dry Cargo and Securities looks set to continue in the second half of the year as the demand for dry bulk and container capacity remains high. Whilst the tanker market remains flat, there are already indications that demand will strengthen as global demand for oil increases," company says.
Also says Logistics unit, Cory Brothers, had a "strong" first half.
Adds: "The group has traded well since the beginning of the current financial year and will deliver interim results well ahead of the interim period last year and modestly ahead of the upgraded expectations. The board continues to look forward with confidence as it sets about delivering on its growth strategy and expects to announce an interim dividend with the interim results for the period to August 31 which will be released to the market in early November 2021."
Current stock price: 267.00 pence
Year-to-date change: up 72%
By Paul McGowan; [email protected]
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