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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 £75.0 million, similar to £74.9 million a year ago. Underlying operating profit is expected to be slightly ahead of prior half-year’s £7.6 million. The cash position edged up 6.5% to £3.3 million at the end of August from £3.1 million a year ago. Braemar said the company-compiled consensus was for revenue of £153.2 million for the financial year 2025 ending February 28, up 0.3% from £152.8 million for financial 2024 it had reported in May. Further, it cited a consensus of £18.1 million for underlying operating profit for financial 2025, up 9.7% from £16.5 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. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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