Braemar Shipping Services buoyed as half-year revenues surge
23 October 2007
Charles Stanley Securities upgraded its performance forecasts for Braemar Shipping Services today, after the integrated shipping services group posted surging revenues on the back of a buoyant market.
Revenues at Braemar topped £68.7 million in the six months to 31 August 2007, up from £50.5 million in the same period last year. Pre-tax profit hit £7.1 million, up from £4.1 million last time.
Sir Graham Hearne, Braemar’s chairman, said the company’s Shipbroking operation had gone from strength to strength with more chartering transactions concluded and more long-term business placed particularly for newbuilding contracts and period charters. He said the company’s forward order book of business was at a record level and significantly higher than at the beginning of the year.”
“Our non-broking businesses are now contributing approximately one quarter of the group's profits,” Hearne noted. “The outlook for the second half of the year remains favourable. 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.”
On the back of positive trading in a strong market, Charles Stanley Securities raised its pre-tax profit forecast again for FY 2008 by £0.4 million to £12.8 million, EPS of 42p and a full year dividend of 22p, an increase of 16%.
|
Relevant Companies
For more company information click below:
Headlines
31 August 2010
30 August 2010
27 August 2010
20 August 2010
18 August 2010
13 August 2010
09 August 2010
06 August 2010
30 July 2010
29 July 2010
28 July 2010
27 July 2010
26 July 2010
23 July 2010
23 July 2010
22 July 2010
21 July 2010
19 July 2010
16 July 2010
12 July 2010
09 July 2010
08 July 2010
07 July 2010
06 July 2010
05 July 2010
02 July 2010
06 May 2010
13 April 2010
24 March 2010
23 March 2010
23 March 2010
23 March 2010
23 March 2010
23 March 2010
23 March 2010
23 March 2010
23 March 2010
22 March 2010
22 March 2010
22 March 2010
22 March 2010
22 March 2010
22 March 2010
22 March 2010
22 March 2010
22 March 2010
22 March 2010
22 March 2010
19 March 2010
19 March 2010
» See all News
Features
31 August 2010
28 July 2010
23 July 2010
13 April 2010
24 March 2010
22 March 2010
19 March 2010
19 March 2010
18 March 2010
16 March 2010
15 March 2010
12 March 2010
11 March 2010
08 March 2010
05 March 2010
05 March 2010
» See all Features
Round-Ups
27 August 2010
20 August 2010
13 August 2010
06 August 2010
30 July 2010
23 July 2010
16 July 2010
09 July 2010
02 July 2010
19 March 2010
19 March 2010
12 March 2010
12 March 2010
05 March 2010
05 March 2010
28 February 2010
Popular
31 August 2010
28 July 2010
30 August 2010
27 August 2010
04 December 2009
18 August 2010
30 July 2010
26 July 2010
29 July 2010
20 August 2010
01 February 2010
23 March 2010
08 July 2010
19 July 2010
27 July 2010
09 August 2010
|