19 September 2024
BRAEMAR PLC
("Braemar" or the "Company" or the "Group")
HY25 Trading
Update
Trading in line with
expectations
Braemar Plc (LSE: BMS), a leading
provider of expert investment, chartering, and risk management
advice to the shipping and energy markets, today announces an
update on trading for the six months ended 31 August
2024.
Trading Update
The board is pleased to announce
that the Group has continued to trade well and in line with
expectations1.
Revenue for HY25 is expected to be
not less than £75m (HY24: £74.9m), with underlying operating profit
(before acquisition-related expenditure) slightly ahead of the
prior year (HY24: £7.6m).
The Group has continued to maintain
a positive cash position with increased net cash of £3.3m at the
end of the period (HY24: £3.1m; FY24: £1.0m).
Outlook
The board remains confident in the
outlook for the remainder of the financial year and beyond, as the
Group continues to benefit from its increasingly resilient and
focused growth strategy. The total forward orderbook2
continues to be strong and at the end of August 2024 was $80.9m
(HY24: $67.2, FY24: $82.6m).
Notice of results
The Group expects to announce its
HY25 results for the six months ended 31 August 2024 by mid
November 2024.
1.
Company compiled consensus as at the date of this
announcement: FY25 revenue of £153.2m and FY25 underlying operating
profit (before acquisition-related expenditure) of
£18.1m
2. The total forward order book covers revenue that will
be earned in future periods up until 2039
ENDS
For
further information, contact:
|
Braemar Plc
|
|
|
|
James Gundy, Group Chief Executive
Officer
|
Tel +44
(0) 20 3142 4100
|
|
Grant Foley, Group Chief Financial
Officer
|
|
|
Rebecca-Joy Wekwete, Company
Secretary
|
|
|
Canaccord Genuity
Adam James / Harry Rees
|
Tel +44
(0) 20 7523 8000
|
|
Burson Buchanan
|
|
|
Charles Ryland / Stephanie Whitmore
/ Jack Devoy / Abby Gilchrist
|
Tel +44
(0) 20 7466 5000
|
|
|
|
|
|
Notes to Editors:
About Braemar Plc
Braemar provides expert investment,
chartering, and risk management advice that enable its clients to
secure sustainable returns and mitigate risk in the volatile world
of shipping and energy. Our experienced brokers work in tandem with
specialist professionals to form teams tailored to our customers'
needs, and provide an integrated service supported by a
collaborative culture.
Braemar joined the Official List of
the London Stock Exchange in November 1997 and trades under the
symbol BMS.
For more information, including our
investor presentation, visit www.Braemar.com and
follow Braemar on LinkedIn.