REG - Braemar PLC - FY26 Trading Update

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RNS Number : 9685X  Braemar PLC  25 March 2026

 

25 March 2026

BRAEMAR PLC

("Braemar", "the Company" and together with its subsidiaries the "Group")

 

FY26 TRADING UPDATE

 

Strong H2 performance as forecast

Diversified business model drives results 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, announces a
trading update for the year ended 28 February 2026 ("FY26").

FY26 performance in line with expectations

·      Revenue of approximately £135.0m(1) (FY25: £141.9m)

·      Underlying operating profit(2) (before acquisition-related
expenditure) of c.£13.2m(1) (FY25: £16.7m), subject to audit

·      Net debt at 28 February 2026 of £2.9m (FY25: net debt £2.5m),
returning to a net cash positive position during March 2026

As expected, the Group's second half performance was stronger than the first
half, with the Group benefitting from the depth and breadth of its diversified
business model in a stronger market.

Good progress against strategic framework

The Group made good progress on the FY26 operational targets set out in the
strategic framework presented in May 2025. During the year, this included
expanding into a new jurisdiction with the opening of the Group's first office
in Africa, supporting growth in our Securities business with the launch of a
UK Organised Trading Facility and further strengthening the business with key
senior hires made through the year. The Group also completed its £2m share
buyback programme and continued to evaluate opportunities to build the
business through complementary acquisitions. Further details of the Group's
strategic progress will be given in the FY26 results.

Outlook

The Group's forward order book(3) at the end of February 2026 remains strong
at $72.5m (FY25: $82.2m).

 

The current conflict in the Middle East is creating uncertainty, with
increased rates but lower volumes in certain markets. Nonetheless, the board
remains confident in the Group's prospects and delivering on its FY30
objectives, with sustained focus on its stated strategic priorities:
operational excellence, diversification and consolidation.

 

Notice of results

The Company expects to publish its results for FY26, together with
notification of its final dividend, by the end of May 2026.

 

 

Commenting, James Gundy, Group CEO of Braemar said:

"We continued to benefit from our diversified business model during FY26 and
made good progress against the objectives we set out at the start of the year.
We look ahead with a strengthened operational platform as we continue to
deliver on our growth strategy as a trusted broker of choice to the shipping
and energy markets. The wider market remains fragmented and complementary
acquisition opportunities are being actively evaluated."

 

1.     Company compiled consensus prior to the release of this
announcement for the year ended 28 February 2026: revenue £132.0m (£130.5m -
£134.2m); underlying operating profit (before acquisition-related
expenditure) £13.2m (£13.0m - £13.8m)

2.     Underlying results measures above are before specific items

3.     The total forward order book covers revenue that will be earned in
future periods up until 2039

 

Enquiries:

 Braemar Plc                                               Tel: +44 (0)20 3142 4100
 James Gundy, Group Chief Executive Officer
 Grant Foley, Group Chief Financial and Operating Officer
 Rebecca-Joy Wekwete, Company Secretary

 Houston                                                   Tel: +44 (0)20 4529 0549
 Kate Hoare / Charlie Barker / Polly Clarke                Tel: +44 (0)77 3303 2695

 Braemar@houston.co.uk (mailto:Braemar@houston.co.uk)

 Canaccord Genuity                                         Tel: +44 (0) 20 7523 8000
 Adam James / Harry Rees

 

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) .

 

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