Braemar Shipping Services PLC (LON:BMS) cut half-year losses as political volatility around the globe gave a boost to its shipbroking arm.
Impending fuel regulation changes and changing trading patterns are also helping the business said Ronald Series, the new executive chairman with several new mandates also being worked on by the financial arm.
Restructuring of the logistics arm cost Braemar £1mln in the latest half-year, while there was also a charge of £460,000 for board charges and £3.75mln for acquisitions NAVES and Atlantic Brokers.
Interim revenues rose 4% to £59.5mln, while losses dropped to £1.3mln from £2.8mln.
The dividend was held at 5p.
Newly appointed house broker finncap has a price target of 325p.