Braemar Plc (LSE:BMS) reported a 16% increase in revenue to £74.3 million for the six months ended 31 August 2026, supported by growth across its chartering, investment advisory and risk advisory businesses.
The shipping and energy advisory group reported statutory profit before tax of £4.7 million, compared with £0.9 million a year earlier, and increased its interim dividend by 10% to 2.75 pence per share.
Revenue and Profit Growth Across Divisions
Revenue from Chartering increased 18% to £44.4 million, while Investment Advisory revenue rose 10% to £15.1 million. Risk Advisory recorded 17% growth to £14.7 million, accounting for approximately one-fifth of group revenue.
Braemar said disruption to shipping through the Strait of Hormuz contributed to higher freight rates and vessel asset values during the period.
Underlying operating profit before acquisition-related expenditure increased 7% to £6.0 million, after £1.4 million of investment in recruitment and business development.
Statutory operating profit rose 85% to £5.6 million, while underlying profit before tax increased 34% to £5.1 million.
Basic underlying earnings per share increased 28% to 11.89 pence, compared with 9.30 pence in the prior-year period.
Cash Generation and Balance Sheet
Net cash generated from operating activities increased to £8.4 million from £1.0 million a year earlier.
Braemar reported zero net debt at 31 August 2026, compared with £5.6 million at the corresponding point last year.
The company also renewed and increased its revolving credit facility with HSBC for three years, with an option to extend the agreement by a further two years.
Management said the facility provides additional capacity to evaluate acquisitions that complement its existing operations.
Recruitment and Business Expansion
Braemar invested £1.4 million during the first half in senior broking appointments, a new power trading desk and its trainee programme.
Seven senior brokers were recruited against a full-year target of ten, while the new power desk was established within Risk Advisory.
The company also appointed Grant Foley as Group CEO and Richard Heading as Group CFO, alongside other senior management appointments.
Braemar continues to evaluate acquisition opportunities and plans further investment in technology, including artificial intelligence initiatives during the second half.
Dividend and Financial Outlook
The board declared an interim dividend of 2.75 pence per share, up from 2.5 pence in the previous year.
Braemar’s forward order book stood at $73.6 million at 31 August 2026, increasing to $80.7 million by 30 September.
The group reaffirmed its full-year outlook, with company-compiled market consensus indicating revenue of £142.7 million and underlying operating profit before acquisition-related expenditure of £14.2 million for the year ending 28 February 2027.
Braemar also maintained its FY2030 targets of £200 million in annual revenue and a 15% underlying operating margin.
More About Braemar
Braemar Plc provides shipbroking, investment advisory and risk management services to the global shipping and energy industries. Its operations cover vessel chartering, maritime investment transactions and regulated risk advisory services.
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