REG - Braemar PLC - HY25 Trading Update

BraemarAnnouncement

19/09/2024 07:00

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RNS Number : 7740E  Braemar PLC  19 September 2024

 

 

 

 

 

 

 

             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 expectations(1).

 

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 orderbook(2)
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

                                                                       Tel +44 (0) 20 7523 8000

 Adam James / Harry Rees

 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 (http://www.braemar.com/)  and follow Braemar
on LinkedIn (https://www.linkedin.com/company/braemar-ltd) .

 

 

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