Shipbroker Braemar PLC (LSE:BMS, OTC:BSEAF) said trading in the opening months of its new financial year has remained positive, prompting it to reiterate expectations for profitable growth in line with market forecasts.
The company told shareholders ahead of its annual meeting that momentum seen in the second half of the last financial year had continued into the new year.
Braemar, which provides broking, investment and risk management services to the shipping and energy markets, said the board "remains confident" of delivering results in line with market expectations for the year to February 2027.
Average analysts' forecasts compiled by the company point to revenue of £139.7 million and underlying operating profit of £14.2 million.
The trading update coincided with a change at the top of the business as James Gundy steps down as group chief executive and a director today, although he will remain with the company to focus on shipbroking activities.
Grant Foley, previously chief financial officer and chief operating officer, has succeeded Gundy as chief executive. Richard Heading joined the group as chief financial officer at the end of June.
