Braemar posts good first half results

Source: Supply Chain Digital

Date :24/10/2007 09:14:04

Shipbroking and shipping services group Braemar Shipping Services made a half year pre-tax profit of £7.1 million, a rise of 75 percent on the equivalent period last year.

Commenting on the results, Chairman Sir Graham Hearne said: “Shipbroking has gone from strength to strength with more chartering transactions concluded and more long-term business placed particularly for newbuilding contracts and period charters. Our forward order book of business is at a record level and significantly higher than at the beginning of the year.”

He added: “Our non-broking businesses are now contributing approximately one quarter of the Group’s profits.”

According to Sir Graham, the outlook for the second half of the year “remains favourable”. He said: “The level of business already concluded this year means that we can be confident that the full year out-turn should see good growth over last year.”

October 24, 2007

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