REG - Braemar PLC - Notice of Results and Dividend Update

BraemarAnnouncement

14/11/2023 07:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231114:nRSN3042Ta&default-theme=true

RNS Number : 3042T  Braemar PLC  14 November 2023

 

14 November 2023

 

 

BRAEMAR PLC

("Braemar" or the "Company" or the "Group")

 

 

Notice of Results and Dividend Update

 

 

Braemar Plc (LSE: BMS), a leading provider of expert investment, chartering,
and risk management advice to the shipping and energy markets, today announces
the following updates.

 

 

Publication of FY23 Results

 

The Group confirms that it will announce its audited final results for the
year ended 28 February 2023 ("FY23") and publish its 2023 Annual Report and
Accounts on Thursday,16 November 2023.

 

Previous FY23 guidance remains unchanged, with revenue of £152.9m (FY22:
£101.3m) and underlying operating profit of £20.1m (FY22: £10.1m).

 

The board intends to reconvene the Annual General Meeting of the Company on
Monday, 18 December 2023, where a final dividend for FY23 of 8.0 pence per
share (FY22: 7.0 pence) will be proposed. Total dividends in respect of FY23
will be 12.0 pence per share, a 33% increase over the previous year (FY22: 9.0
pence).

 

The Group will seek a restoration of trading in its ordinary shares on the
London Stock Exchange following the publication of the FY23 results and filing
of the 2023 Annual Report and Accounts.

Publication of H1 FY24 Results

 

The Group will announce its results for the six months ended 31 August 2023 on
Wednesday, 29 November 2023. In line with previous guidance, underlying
operating profit (excluding foreign exchange movements) for H1 FY24 is
expected to be not less than £7.0m (H1 FY23: £8.9m, excluding foreign
exchange movements).

 

The board remains confident in the outlook for the second half of the current
financial year and, in line with the Group's stated progressive dividend
policy, expects to recommend an interim dividend of not less than 4.0 pence
per share.

 

Results Roadshow and Online Presentations

 

Given the proximity of these results announcements, the Company will host a
combined results roadshow, commencing with an online analyst briefing on
Wednesday, 29 November 2023 at 10.30am. Please contact the team at Buchanan
via braemar@buchanan.uk.com (mailto:braemar@buchanan.uk.com) for further
details.

 

The Company is also hosting an online investor presentation with Q&A on
Friday, 1 December 2023, commencing at 1pm. To participate, please register
with PI World at https://bit.ly/BMS_FY23_webinar
(https://protect-eu.mimecast.com/s/Nh9ZC2ROLF7Wry3hnsNuQ?domain=bit.ly) .

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
 Investec Bank plc
 Gary Clarence / Harry Hargreaves / Alice King         Tel +44 (0) 20 7597 5970
 Cavendish Securities PLC

                                                       Tel +44 (0) 20 7397 8900

 Ben Jeynes / Matt Lewis (Corporate Finance)

 Leif Powis / Charlie Combe (Sales & ECM)
 Buchanan
 Charles Ryland / Stephanie Whitmore /Jamie Hooper     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) .

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NORGPGACGUPWPUW