Braemar PLC - London-based shipbroker and advisor in shipping investment - In the financial year ended February 28, pretax profit grows 11% to GBP9.5 million from GBP8.5 million a year prior. Revenue jumps 51% to GBP152.9 million from GBP101.3 million. "Sentiment in the short and medium-term, as measured by time charter rates, is broadly positive, and the vessel supply and freight demand pictures in the group's two biggest markets, tankers and dry cargo, look promising for the foreseeable future," Braemar says. Declares 12.0p per share total dividend, up 33% from 9.0p. Looking ahead "with confidence", Chief Executive Officer James Gundy anticipates "another good year of trading, as the benefits of our clear focus, our growth strategy, prudent cost control and operational gearing compound for the benefit of all stakeholders".
Current stock price: 235.00 pence
12-month change: down 28%
By Tom Budszus, Alliance News reporter
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Braemar Shipping (BMS)