HY27 Trading Update
HY27 revenue up 16% to £74.3m with net debt reduced to zero; on track for full year.
vs expectations: in line
- Revenue £74.3m (prior £63.9m)
- Underlying operating profit £6.0m (prior £5.6m)
- Net debt zero (prior £5.6m)
- Forward order book $73.4m (prior $72.5m)
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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, announces a trading update for the six months ended 31 August 2026 ("HY27").
Positive financial performance
Revenue up 16% to £74.3m (HY26: £63.9m), driven by a strong rate environment;
Underlying operating profit2 up 7% to £6.0m (HY26: £5.6m), after making £1.4m of strategic investments to drive future growth;
Net debt reduced to zero as at 31 August 2026 (HY26: £5.6m); and
Strong forward order book3 of $73.4m (FY26: $72.5m and HY26: $73.8m).
Outlook
The board remains confident that the Group will deliver in line with market expectations for the full year. 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.
Notice of results
The Company expects to announce its results for HY27 by mid-November 2026.
Commenting, Grant Foley, Group CEO 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 £200m 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.”
Notes
Company compiled consensus prior to the release of this announcement for the year ended 28 February 2027: revenue £139.5m (£138.0m - £141.7m); underlying operating profit (before acquisition-related expenditure) £14.2m
Underlying results before acquisition-related expenditure
The total forward order book covers commissions 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.