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...think it's a case of the price being behind the good news. Has been for some time and probably will for sometime, but the increased dividend should keep pushing it up now it's debt free.
Trades a long way behind the superior Clarkson, but the difference is too big.
Braemar shares may have fallen back even after the excellent update-for the record the tanker market has gone even higher and could go further - the S&P still very active and dry could start to improve-with the dollar pound at very favourable rates cannot see the downside -
Yep excellent results, it really looks like the restructuring and asset disposal has fully paid off. Good to see also they have paid all the debt off now also. Looking ahead with a potential P/E of approx 5 , I've decided to top up again.........
This should be hitting new highs surely !
hxxps://masterinvestor.co.uk/equities/braemar-tide-set-to-lift-shipping/
Le -Barone -your comments noted but back in the real world tanker and s&p market are booming and the the lng market rates are unbelievable - sure that Braemar will produce excellents results and we will see this in the november updates
Not
Agree with the quality of Clarksons & have held those for over 20 yrs.
However Braemar has made great strides to concentrate on its original business of brokering and the latest pre close statement of turnover up over 40% and profit up over 80% seems ok to me in the current environment!
...and the £3 sells today are buys, or at least mine is!
worth holding to November's half yearly results ...positive hopefully with earnings in USD...always assuming they manage to issue results successfully on time .
Thanks both. Hopefully it is just profit taking. Personally feel this has much further to climb but can’t blame people for locking in some gains given the general market environment.
Interesting times ahead - tanker mrkt has taken off - with excellent prospects for next 2/ 3 yrs specially with very low order book - S&P active and Braemar very active in both markets - those who are selling have no idea on the returns that can be made and thats before the dollar pound exchange rate
Profit taking I would imagine. The shares have still enjoyed a good run over the past three weeks, up by 8.6% from 277p on 23 August to 301p currently.
Is anyone aware of something specific that has pushed this down from 330 / 340? I read the results as being extremely positive and so was very surprised to see this pull back so quickly!
I don't know about that but I do know that shipping is very volatile (it used to be cyclical but I think that era has passed) and a broker's 1.25% commission is only as good as the market rates. On a good mkt it's great but on a bad mkt......my gut feeling is that at its recent highs this share price was factoring in a good bull run last year but from what I hear the market doesn't look so rosy going forwards...
Any thoughts from anyone on SP target now? Also, services sanctions against Russia…?
interesting they have guided for at least 20m profit only at the half way stage. doesn't that suggest that they are almost there already given no point being overbullish in a very strong market?
what do people think about the cashflow? £20m creates c £16m of post tax free cash on mkt cap of £108m with no debt by year end. looks attractive no?
there's no major capex requirements coming up are there? looks like good capacity for M&A
20m operating profit, even better than I’d hoped for.
So it would seem, but the unseemly delays have undoubted resulted in a very awkward and long-winded way of communicating what I assume, although still not unequivocally stated, is overall, fairly satisfactory news.
The company most certainly needs to up its PR act going forward like, for example, ensuring that its next interim results are announced within 3 months of the period end ... you know, like other listed companies generally succeed in doing!
Some good pointers there and good to see the accounting issues seem to have been resolved.
Results announced along with ‘exceptionally strong trading in the current financial year'
They could be on to make as much as 15m this year I reckon.
Clarkson reporting today…may give a boost to BMS share price , if market can forgive their shambles over reporting.
When results come…ho ho ho; I trust whichever director managed to screw up following basic regulations pays back any bonus and is sent to spend time in the post room.
Adding here today, expecting a strong trading update when it comes.
agreed...much recommendation by Ian Cowie of shipping ITs...this should also be on his radar.