Braemar shares up as interim revenue, underlying operating profit rise

Braemar PLC on Tuesday said it is confident it can deliver annual results in line with market expectations, as interim underlying operating profit climbed, with the company citing strategic investments driving future growth.

The London-based provider of investment, chartering and risk management advice said revenue rose 16% to £74.3 million in the six months to August 31, from £63.9 million a year prior.

Underlying operating profit climbed 7.1% to £6.0 million from £5.6 million, with the company citing strategic investments of £1.4 million it made to drive future growth.

The order book as at August 31 stood at USD73.4 million, down 0.5% from USD73.8 million a year ago.

Braemar said it is confident that it will deliver full-year results in line with market expectations, citing a company-compiled consensus of £139.5 million for revenue, with a range of £138.0 million to £141.7 million. The consensus would be 2.9% higher than the £135.6 million the firm had reported for the financial year ended February 28.

Furthermore, it cited an underlying operating profit before acquisition-related expenditure consensus of £14.2 million for financial 2027, which would be up 7.6% from £13.2 million in financial 2026.

Braemar said: "Increased volatility across shipping and energy markets has lifted average rates in our chartering business and underpins strong demand for our advisory and risk management services. We expect the strategic investments made in the first half, including senior hires and the establishment of our power desk, to convert to profitable growth in the second half."

Chief Executive Officer Grant Foley said: "I am delighted with the performance of the business in the first half. We have made deliberate investment in our platform and people during the period as we continue to execute our strategy to build a £200 million revenue business by FY30.

"Our balance sheet has strengthened further and trading remains in line with market expectations for the year. The quality of the team we are building and the progress made in the first half gives me confidence in what the second half will deliver."

Braemar expects to publish half-year results by mid-November.

Braemar shares were 2.8% higher at 231.40 pence each on Tuesday afternoon in London.

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