AGM Trading Update
CEO James Gundy steps down; CFO Grant Foley assumes role. Group reports positive momentum in new financial year.
vs expectations: in line
- Consensus revenue FY27 £139.7m
- Consensus underlying operating profit FY27 £14.2m
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Braemar Plc (LSE: BMS), a leading provider of expert chartering, investment and risk management advice to the shipping and energy markets, provides the following update ahead of its Annual General Meeting (AGM) to be held today at 11:00 a.m.
Positive momentum
Positive momentum in the new financial year has continued, building on the strong second half of the year ended 28 February 2026. The board remains confident in the Group's ability to deliver profitable growth for the year in line with market expectations1.
Board changes
As previously announced, James Gundy steps down as Group Chief Executive Officer and as a director of the Company today, remaining with the business to focus on his shipbroking activities. Grant Foley, currently Group CFO and COO, succeeds him as Group CEO with immediate effect, with Richard Heading having joined as Group CFO on 29 June 2026.
Catriona ("Cat") Valentine has not sought re-election at the AGM and steps down from the board with effect from the close of the meeting, having served as a non-executive director since 2023.
The board thanks both James and Cat for their respective contributions to Braemar and looks forward to the next chapter under Grant's leadership.
1 Company compiled consensus prior to the release of this announcement for the year ended 28 February 2027 (FY27): revenue £139.7m; underlying operating profit (before acquisition-related expenditure) £14.2m
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.