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Hi jjimmy, Looks like we are both of the same opinion on #BMS & #CRAW! LoL I bought a first trance of #BMS at 281p yesterday as it seems to have bottomed-ish & if it does fall again I have powder dry to add. There should be a Trading update sometime in Mid-January, so I imagine all may well be revealed then. Best regards & Happy New Year to you, Blue
This chart looks good: Check the weekly MACD chart its has dropped without a bounce 3 times in a row - looks good for a bounce. Daily MACD is also about to go green which is a good sign There has been quote a lot of large buys at £2.80 region RSI & Stochastic's indicators are pointing up Its been coming down for 8 months on the trot - so good opportunity for a technical bounce if nothing else First target £3.50 Im long here at £2.80 good luck all
This doesn't bode well for the World Economy - aren't shipping shares the first stocks to rise when there are better times ahead?
Cantor have downgraded and cut forecasts to 23p EPS this year. BMS will remain on my watchlist for a recovery in its markets, but a 366p share price puts BMS on a P/E of almost 16, which is surely too high. It may be difficult to sustain this price level imo at that rating: "Profit warning – BMS has issued a profit warning. Tanker markets have seen lower activity levels and freight rates which has led to reduced revenues. In the dry cargo markets, the company states that despite healthy demand and good transaction volumes, overcapacity continues to depress freight rates to historically low levels. Cost cutting measures have been put in place to reduce costs in this area. BMS’s vessel sale & purchase and offshore desks continue to perform in line with management expectations, with similar levels of activity to the previous year. Generally, USD denominated earnings in these divisions will benefit from the weakness of GBP if the exchange rate is sustained at current levels. In the Technical services division, the slowdown in oil & gas exploration and new project work continues to impact surveying and engineering businesses, particularly in relation to offshore activity. To respond to these tough market conditions, the company has already made a number of senior management changes in the Technical division. The Logistics division continues to perform in line with management expectations. As a result of these events, earnings for the year ending 28 February 2017 for the group will be “materially” lower than for 2016. BMS further states that it is “well financed” with a strong balance sheet and “substantial” order book, cost cutting measures and new divisional management should lead to an improvement in underlying performance. We cut our forecasts for underlying operating profit for FY17 by over 30% to £9m and our EPS is cut by 24% to 23p. Cuts are made to divisional profits in Shipbroking and Technical. Our FY18 and FY19 forecasts are placed under review. Our recommendation is changed to HOLD from BUY, our TP is placed under review. Interim results will be released on Tuesday 25 October, 2016.
if nor spectacular. Not helped by the price of Oil and consequently some of the divisions are struggling. A very good jump in underlying profit and free cash flow. Dividend cover is up so perhaps they could have upped the divi. The flat divi might explain partly the muted reaction. However at 26p a year, giving a yield just under 6% in a consistently performing company is not to be sniffed at!
Very pleasing set of results which really floats my boat! Nice hike in profits which shows the acquisition of ACM is really bedding in. Good dividend as well which as anyone worth their salt knows is useful in these low interest rate environments. Hoping we can set sail for 500p by year end or else I will think the market is rigged against us.
Wonder what is making this beast move>? Taking all prices up which is always a good sign.
I question the reliability of the buy/sell information. My trade this morning is down as a sell and it was a buy!
Shares in Braemar Shipping Services on Thursday rose after the company said its shipbroking division saw an improvement in its performance during the last quarter. The company said the merger of ACM Shipping and Braemar Seascope in 2014 was in line with its plans. "We are encouraged by the progress of the enlarged division," Braemar wrote in a trading update. The falling of oil prices helped the group to improve shipbroking rates and its revenues in the sector, driven by an increased demand for oil tankers. Furthermore, the logistics and technical divisions also improved during a year of "transition and growth"
Thanks for feedback. In it for the long term will watch with view to add as I think the company is sound.
81 shares is a very small stake so I wouldn't worry. As it stands you've an unrealised paper loss of only £80. I have 1,000 shares as part of a diverse portfolio and can see no reason to sell right now.
Earlier this year bought 81 shares around 500p. Was prepared to hold long, but since then trend has been downward. Have been waiting for more news but now wondering if I should cut losses. New to trading so would appreciate any views as to long term forecast...
Have a look at the yearly charts and that may help to answer your question.
Shipping shares are supposed to outperform as the world economy improves so why has BMS plunged 14.7% over the past 10 days? I hope the recovery's not over already!
In line now?
Out of line now?
MAKE MONEY FROM BRITAIN'S SUMMER IN THE SPOTLIGHT Alex Wright, UK Smaller Companies fund manager picked Braemar Shipping Services, which has the rights to a number of cruise ship berths in the Thames – and will benefit from cruise liners wanting to moor up in London during the Olympics. Source: http://www.investments.co.uk/news/2012/jul/make-money-from-britains-summe-in-the-spotlight.html Westhouse Securities reiterates its BUY recommendation for Braemar with a target price of 390p. P.S. Here's a couple of links about SCLP, one of the hottest stocks at the moment: http://www.euroinvestor.com/community/discussionthread.aspx?threadid=256596 http://www.euroinvestor.com/community/discussionthread.aspx?threadid=253089
"The principal forces working to re-balance the fleet are the continuing growth in demand from Asia for energy and raw materials and the scrapping of older ships. However, the pace of correction is difficult to assess because of the uncertain macroeconomic picture. In this environment shipbroking activity is likely to remain high but with continuing pressure on margins," the group said in a statement. "Braemar is well-equipped to trade in the competitive and challenging markets," Hearne added.
Revenues from the Technical, Logistics and Environmental divisions climbed £19.2m to £83.7m and now represent 63% of total group revenues, up from 51% in 2011. Looking ahead Braemar said the shipping markets are likely to feel the effects of the tonnage surplus for a few years to come.
Basic EPS fell to 33.84p from 48.41p while cash at 29 February 2012 declined to £17.5m from £25.6m before. The group maintained its final dividend of 17p per share, giving a full year payment of 26p. Commenting on the results and outlook chairman Graham Hearne said, "This has been a challenging year for shipping with a significant surplus of tonnage in many sectors. While activity remained strong, chartering rates and vessel values suffered and shipbroking income fell as a result. However, the Technical, Logistics and Environmental divisions all performed well.
Braemar Shipping Services said it had been a challenging year, with significant surplus of tonnage in many sectors, as it reported an increase in revenue and maintained its dividend. Revenue for the year ended 29 February 2012 rose to £133.5m, in line with market forecasts, and compared to £126.1m in 2011. Pre-tax profit fell to £9.8m in the year from £13.2m a year earlier. Analysts had expected pre-tax profit of £11m for the year.
Hey mulledwine, looks like the share price has backed up that statement. Long may it continue :)
CONT The Environmental division, which specialises in dealing with oil, chemical and marine pollution incidents, has been engaged in the salvage, processing and cleaning of the containers from the vessel "Rena" which ran aground off New Zealand in October 2011. The salvage work will continue well into 2012. The Braemar team is made up of personnel from the Environmental and Technical divisions who fulfilled a similar role in respect of the "MSC Napoli" off the coast of Devon in 2007. All of the Group's divisions have been busy over the past three months with the overall performance of the group showing an improvement compared with the earlier quarters of this financial year.
Interim Management Statement Braemar Shipping Services plc today issues its interim management statement in relation to the period since the announcement of the interim results on 25 October 2011. Over the past few months activity in the Shipbroking division has increased. The Group has seen good levels of spot chartering business particularly in deep sea tankers and in capesize bulk carriers. The specialised tanker chartering desks are also performing well, having secured long term contract business and good prospects of increasing their transaction volumes in the new financial year, beginning 1 March. Our second hand sale and purchase and demolition business has been more active than in the summer, stimulated by the fall in the value of middle-aged ships in most sectors. Overall Braemar's markets are entering a new phase where principals are adjusting their operations to fit market conditions, and this greater certainty should be positive. The Company is making good progress in bringing its technical businesses together as a single unit, trading as Braemar Technical Services. There are already clear signs of much closer interaction within the division and when full integration is achieved, the engineering and surveying teams will be deployed more efficiently. Braemar's marketing capability in the Far East, Europe and North America will thereby be enhanced. In recent months, the Company has won several important new engineering projects and the level of surveying appointments has also been encouraging. The Logistics division has been performing well. Ship agency is making substantial inroads in the highly-competitive UK market and continues to grow in Singapore. The freight and project forwarding arm is continuing to expand its customer base and is delivering improved results. The cruise ship agency and tours business had a reasonable summer in 2011 and bookings for 2012 have been strong on the back of the London Olympics.
http://www.investegate.co.uk/Article.aspx?id=201201120700134062V