Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Braemar Shipping Services: Awaiting Favourable Trade Winds

Published 05/10/2017, 06:24 AM
Updated 07/09/2023, 06:31 AM

FY17 proved a very challenging period for Braemar Shipping Services Plc (LON:BRMS), although both the Shipbroking and Logistics divisions proved quite resilient. The weakness in the Technical division has been decisively addressed, with a new management team implementing a restructuring programme expected to return the operation swiftly to profit in FY18. With potential for both oil and gas and shipping markets to recover, although timing and strength remain uncertain, medium-term progress seems likely. The strategy remains intact and the balance sheet supports ongoing investments to augment growth.

Braemar Shipping Services

Main markets remained depressed

Both the depressed conditions in the shipping market and the oil and gas spending crunch sustained throughout FY17. The January trading update highlighted the issues in Technical that pushed the division into loss, as well as the reduced activity in the freight forwarding business in Logistics which offset progress in the Port Agency business. Shipbroking traded as anticipated, with robust operating margins of 12.5%. FY17 pre-tax profit of £3.2m was at the top of market expectations.

To read the entire report Please click on the pdf File Below

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.