Braemar H1 revenue rises on strong shipping markets; raises dividend
Braemar H1 revenue rises on strong shipping markets; raises dividend
Overview
UK shipping advisory firm's H1 revenue up 16% yr/yr, with growth across all segments
Underlying operating profit before acquisition-related costs rose 7%, reflecting strategic investment in growth
Company raised interim dividend 10%, citing confidence in outlook and FY30 targets
Outlook
Braemar expects full-year trading to be in line with market expectations
Company maintains FY30 targets of £200m revenue and 15% underlying operating margin
Company says trading since period end has remained strong, with forward order book at $80.7m
Result Drivers
STRONGER SHIPPING MARKETS - Co said disruption in the Strait of Hormuz and increased volatility in shipping and energy markets lifted chartering rates and asset values, supporting revenue growth
STRATEGIC INVESTMENT - Co invested £1.4m in senior broker hires and a new power desk, expecting these to generate increasing revenues in future periods
SEGMENT GROWTH - All three segments—Chartering, Investment Advisory, and Risk Advisory—grew revenue, with Tankers and Sale & Purchase leading gains due to higher rates and asset values
Company press release: ID:nRSD6841Ba
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| GBP 74.30 mln |
|
H1 Adjusted EBIT |
| GBP 6 mln |
|
H1 EBIT |
| GBP 5.60 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the marine freight & logistics peer group is "buy"
Wall Street's median 12-month price target for Braemar PLC is GBp290.00, about 21.8% above its November 3 closing price of GBp238.00
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 8 three months ago
Reuters Recommended Reads
Nov 4 - Norway's Wallenius Wilhelmsen Q3 profit rises on Asia shipping demand
Nov 3 - Ardmore Shipping Q3 revenue beats estimates on higher spot charter rates
Nov 3 - Navigator Holdings Q3 operating revenue inches up
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)