HY25 Trading Update
HY25 revenue expected at least £75m, slightly ahead on operating profit, net cash increased to £3.3m.
vs expectations: in line
- HY25 Revenue (expected) not less than £75m (prior £74.9m)
- HY25 Underlying operating profit (expected) slightly ahead of prior year (prior £7.6m)
- Net cash at end of period £3.3m (prior £3.1m)
- Total forward orderbook (end August 2024) $80.9m (prior $67.2m)
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Braemar Plc (LSE: BMS), a leading provider of expert investment, chartering, and risk management advice to the shipping and energy markets, today announces an update on trading for the six months ended 31 August 2024.
Trading Update
The board is pleased to announce that the Group has continued to trade well and in line with expectations1.
Revenue for HY25 is expected to be not less than £75m (HY24: £74.9m), with underlying operating profit (before acquisition-related expenditure) slightly ahead of the prior year (HY24: £7.6m).
The Group has continued to maintain a positive cash position with increased net cash of £3.3m at the end of the period (HY24: £3.1m; FY24: £1.0m).
Outlook
The board remains confident in the outlook for the remainder of the financial year and beyond, as the Group continues to benefit from its increasingly resilient and focused growth strategy. The total forward orderbook2 continues to be strong and at the end of August 2024 was $80.9m (HY24: $67.2, FY24: $82.6m).
Notice of results
The Group expects to announce its HY25 results for the six months ended 31 August 2024 by mid November 2024.
- Company compiled consensus as at the date of this announcement: FY25 revenue of £153.2m and FY25 underlying operating profit (before acquisition-related expenditure) of £18.1m
- The total forward order book covers revenue that will be earned in future periods up until 2039
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.