REG - Braemar PLC - Pre-close trading update

BraemarAnnouncement

29/09/2022 07:01

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220929:nRSc0687Ba&default-theme=true

RNS Number : 0687B  Braemar PLC  29 September 2022

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE
INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU NO.
596/2014) WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL)
ACT 2018. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION
IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN

 

29 September 2022

BRAEMAR PLC

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

Pre-close trading update

 

Braemar Plc (LSE: BMS), a leading international Shipbroker and provider of
expert advice in shipping investment, chartering and risk management services,
is pleased to provide a trading update for the six months ended 31 August 2022
(the "Period").

 

Braemar continues to benefit from the increased scale and breadth of its
broking operations which have achieved significantly higher trading activity
and transaction volumes during the Period. Trading has been very strong with
all sectors of the core Shipbroking business generating higher revenue
  than in the previous six months.

 

Revenue to 31 August 2022 is expected to be not less than £69m (H1 2021:
£47m), an increase of 47%, with underlying operating profit for the period
not less than £10.5m, an increase of 88% (H1 2021 £5.6m). Of the 47%
increase in revenue, 36% has been derived from the Group's business activities
and 11% from exchange rate movements between the US dollar and Sterling. In US
dollar terms, revenue for the period is expected to be not less than $88m (H1
2021 $65m).

 

The board looks forward to the second half of the year with a high degree of
confidence in the ongoing execution of its growth strategy.

 

The Group will announce its Interim Results for the six months ended 31 August
2022 in mid-November 2022.

 

 

 

 

 

For further information, contact:

 Braemar Plc
 James Gundy, Group Chief Executive Officer            Tel +44 (0) 20 3142 4100
 Nick Stone, Chief Financial Officer

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

 Cenkos Securities plc

 Ben Jeynes / Max Gould (Corporate Finance)            Tel +44 (0) 20 7397 8900

 Alex Pollen / Leif Powis (Sales)

 Buchanan
 Charles Ryland / Stephanie Whitmore / Jack Devoy      Tel +44 (0) 20 7466 5000

 

Notes to Editors:

About Braemar Plc

Braemar provides expert advice in shipping investment, chartering, and risk
management to enable its clients to secure sustainable returns and mitigate
risk in the volatile world of shipping. 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  TSTBLGDCCUDDGDI