Member Login

Email address required.
Password required.

Braemar provides trading update on record year

Posted on: 22 March 2023

The board of Braemar Plc, a provider of expert investment, chartering, and risk management advice to the shipping and energy markets, is delighted to announce that Braemar has achieved record revenue and record profitability for the financial year ended 28 February 2023 on a simplified business strategy.

The Company expects to report revenue for the year of not less than £150m (2022: £101.3m), with underlying operating profit of not less than £20m (2022: £10.1m).

The Group’s cash generation has also been strong, and the board expects the Group to be in a net cash positive position of circa £6.9m at the end of the financial year (2022: net debt of £9.3m). This net cash figure is after the payment of the acquisition consideration for Southport Maritime Inc. in the US and the recruitment of the new team in Madrid, both of which were announced by the Company in December 2022.

Trading in the first few weeks of the financial year has started well and the board looks forward to the rest of the year with confidence.

What is Maritime London?

Maritime London – the promotional body for UK based companies providing professional services to the international shipping industry

Funded by over 100 companies and organisations from a wide range of disciplines, Maritime London ensures that the UK remains a world beating location to base a maritime related business. Maritime London’s mission is to promote the UK as the world’s premier maritime business centre.

Our core Maritime Services

The UK is home to a world beating array of professional maritime service providers. Maritime sectors include:

© 2023 All Rights reserved. || Privacy/Terms